| 1 |
Marginal revenue recommended by symbol |
- A. MR
- B. MC
- C. AR
- D. None of these
|
| 2 |
The most efficient scale of production of a firm is where |
- A. LAC is minimum
- B. SAC is minimum
- C. LMC is minimum
- D. SMC is minimum
|
| 3 |
"The reward for a factor is determined by the marginal revenue product of the factor" . it was said by: |
- A. J.M. Keynes
- B. Taussing
- C. Hansen
- D. Carver
|
| 4 |
Total profit = ? |
- A. Per unit profit x output
- B. Per unit profit x input
- C. Per unit profit + output
- D. per unit profit - input
|
| 5 |
How many condition of equilibrium of firm |
|
| 6 |
MRP curve of a firm represent demand curve of industry under. |
- A. Imperfect compitition
- B. Monolopy
- C. Oligopoly
- D. Perfect competition
|
| 7 |
Marginal revenue is always less than price at all level of output in |
- A. perfect competition
- B. monopoly
- C. both a and b
- D. none of the above
|
| 8 |
A firm decides to exit the industry when |
- A. AC starts rising
- B. MC starts rising
- C. price is less than LAC
- D. TC starts rising
|
| 9 |
The demand for a factor is called. |
- A. Composite demand
- B. Joint demand
- C. derived demand
- D. No demand
|
| 10 |
Choose the correct condition of equilibrium of firm |
- A. MC = MR
- B. MC curve cuts MR curve from below
- C. Both a and b
- D. MC + MR - AR
|
