11th class Principles of Economics chapter 9 online mcq test with answers for I.Com part 1 Principles of Economics chapter 9(National Income)

Principles of Economics Icom Part 1 English Medium Chapter 9 Online Test

Sr. #	Questions	Answers Choice
1	Firms earn abnormal profit when:	AR = AC AR < AC AR > AC AC = AR
2	Under monopoly the price is always equal to:	AR MR MC AVC
3	Under monopoly, the slope of MR curve is:	Twice the slope of AR curve Less than the slope of AR curve Greater than the slope of AR curve Half the slope of AR curve
4	If MC=MR=AR=AC=P, then a firms gains:	Super profit Normal profit Normal loss Abnormal loss
5	In the long run monopolist earns profit:	Normal Abnormal Super normal Both b and c
6	Under Monopoly, a firm is in equilibrium position when Ed is:	Equal to unity Less than unity Grater than unity Both b and c
7	Price discrimination policy refers to:	Single price Two prices Multiple prices None of these
8	In the long run firms mostly earn normal profit in:	Perfect competition Oliogopoly Monopoly Duopoly
9	The term "Price Taker" is used in:	Perfect competition Oliogopoly Monopoly Monopsony
10	The term "Price Maker" is used in:	Perfect competition Oliogopoly Monopoly Monopsony
11	Oligopoly means:	Single seller Two seller Multiple sellers Multiple buyers
12	Duopoly refers to:	Single seller Two seller Multiple sellers Multiple buyers
13	Monopoly refers to:	Single buyer Single seller Single producer Both b and c
14	Difference between total revenue and total cost presents:	Price Profit Production Loss
15	At shut down position:	AC = AR AVC = AR AVC < AR AVC > AR