| 1 |
Total profit = ? |
- A. Per unit profit x output
- B. Per unit profit x input
- C. Per unit profit + output
- D. per unit profit - input
|
| 2 |
MRP curve of a firm represent demand curve of industry under. |
- A. Imperfect compitition
- B. Monolopy
- C. Oligopoly
- D. Perfect competition
|
| 3 |
If a firm shuts down temporarily, it will incur loss equal to |
- A. AFC
- B. AVC
- C. TFC
- D. TVC
|
| 4 |
Normal profit is called normal because |
- A. it is neither very high nor very low
- B. it is minimum acceptable to the producer
- C. it is minimum which buyer wants to pay
- D. it is maximum allowed by govt.
|
| 5 |
:It is not possible to separate marginal revenue product of each factor of production:. It was said by: |
- A. Carver
- B. Hobson
- C. Hansen
- D. Hicks
|
| 6 |
In short period how many possibilities in which a firm may find itself |
- A. four
- B. five
- C. six
- D. seven
|
| 7 |
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
|
| 8 |
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
|
| 9 |
Marginal revenue of a monopolist is |
- A. equal to price
- B. greater than price
- C. less than price
- D. increases with output
|
| 10 |
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
|
