| 1 |
How many condition of equilibrium of firm |
|
| 2 |
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
|
| 3 |
MRP curve of a factor represents the. |
- A. Supply curve of the factor
- B. Demand curve of the factor
- C. Either demand or supply curve of the factor
- D. None of the three
|
| 4 |
The necessary condition for equilibrium position of a firm is |
- A. MR > MC
- B. MC > price
- C. MC = MR
- D. MC = AC
|
| 5 |
If a firm shuts down temporarily, it will incur loss equal to |
- A. AFC
- B. AVC
- C. TFC
- D. TVC
|
| 6 |
A market competition from in which there are very large number of firms producing a homogeneous commodity are called |
- A. Perfect competition
- B. Equilibrium of firm
- C. Under perfect competition
- D. None of these
|
| 7 |
In short period how many possibilities in which a firm may find itself |
- A. four
- B. five
- C. six
- D. seven
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| 8 |
A firm should shut down in the short run if it is not covering its |
- A. variable cost
- B. fixed cost
- C. total cost
- D. explicit cost
|
| 9 |
One of the following is not assumption of the marginal productivity theory. |
- A. All factors of production are present substitutes of each other.
- B. Law of increasing return applies in the production process.
- C. There is perfect mobility of factor of production
- D. Units of each factors of production are identical
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| 10 |
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
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