11th class Principles of Economics chapter 8 online mcq test with answers for I.Com part 1 Principles of Economics chapter 8(Resource Pricing)

Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test

Sr. #	Questions	Answers Choice
1	With the increase of output, which cost of production increases:	VC AC FC MC
2	If a firm does not produce anything then its variable cost is:	Minimum Negative Maximum Zero
3	Fixed cost consists of:	Rent Salaries Interest All of them
4	Firm's cost depends upon:	Revenue Supply Price Output
5	All factors of production are variable in the:	Market period Long period Short period All of these
6	At least one factor is fixed in:	Market period Long period Short period All of three
7	Marginal revenue product is the amount of money attained by selling	Average product Marginal product Total product None of these
8	Marginal revenue product curve is called	Demand curve of firm Supply curve of firm Demand curve of industry Supply curve of industry
9	According to which economist, it is difficult to find marginal product of a factor of production	Marshall and pigou Adam Smith and Malthus Keynes Taussing and Davenport
10	Tendency of demand curve of a factor of production is	Positive Negative Zero Horizontal
11	Production of the last unit of a factor of production is called	Total product Average product Marginal product Positive product
12	Demand for factors of production is	Direct Derived Positive Negative
13	Amount of money attained by selling marginal product is called	Average revenue product Marginal revenue product Total revenue product None of three
14	Cost of a firm on the optimum combination of factors of production is	Minimum Maximum Reasonable Positive
15	Which law is applicable on production process under marginal productivity theory	Law of increasing return Law of constant return Law of decreasing return Law of decreasing cost

Download This Set