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Online Tests
Economics Ics Part 1 English Medium Chapter 13 Online Test MCQs With Answers
Question # 1
Lowest point on the average cost curve in the long-run represents;
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Optimum factors combination
Maximum level of output
Maximum level of total revenue
None of the three
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Question # 2
Total fixed cost curve is .
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Parallel to the vertical axis
Parallel to the horizontal axis
Sloping downward to the right
Sloping upward to the right
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Question # 3
When AC curve rises, MC curve remains:
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Above AC
Below AC
Equal AC
Negative
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Question # 4
Long rum is a period
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three years or longer
long enough to allow firms to change plant size and capacity
in which a firm need not get loans
which affects larger more than smaller firms
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Question # 5
Variable cost of production are also called.
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Fixed cost
Supplementary cost
Total variable cost
Prime cost
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Question # 6
Change in total cost on the production of one additional unit of output is calculated as .
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Marginal cost
Average cost
Total cost
Marginal product
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Question # 7
As output increase, one of the following costs will also increase:
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Marginal cost
Average cost
Variable cost
Fixed cost
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Question # 8
TVC
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starts from origin
not from origin
is parallel to x-axis
is parallel to y-axis
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Question # 9
Total cost curve in general is a.
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Linear function
Quadratic function
Cubic function
Long function
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Question # 10
Unit cost is another name for
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MC
AVC
ATC
AFC
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Question # 11
TC
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starts from origin
not from origin
is parallel to y-axis
parallel to x- axis
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Question # 12
One of the following does not represent imperfect competition.
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Day to day market
Monopoly
Duopoly
Monopolistic Competition
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Question # 13
MC is given by slope of
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TFC
TC
ATC
AVC
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Question # 14
Average cost and marginal cost curves in the short-run are:
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Quadratic function
Linear function
Cubic function
Log function
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Question # 15
Short run cost curves are.
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v-shaped
Dish-shaped
U-shaped
L-shaped
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Question # 16
As output increases
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MC curve firstly falls then rises
MC firstly rises then falls
MC continuously rises
continuously falls
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Question # 17
All the following are U-shape except
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AVC
AFC
AC
MC
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