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Economics
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Question-1
When the MC is less than AVC, ________ falls with increase in output.
(A)
MC
(B)
ATC
(C)
AC
(D)
All of these
Question-2
The ________ curve cost the Average Costs Curve (AC) at the lowest point.
(A)
MC
(B)
TC
(C)
TC
(D)
none of these
Question-3
Economies and diseconomies of scale are classified into _________.
(A)
Internal economies and diseconomies
(B)
External economies and diseconomies
(C)
a and b
(D)
none of thees
Question-4
___________ is not an example of fixed cost.
(A)
property tax
(B)
license fees
(C)
salary of the temporary staff
(D)
Salary of the permanent staff
Question-5
Larger output can be produced at a lower cost with _______ plants.
(A)
Smaller sized
(B)
larger sized
(C)
medium sized
(D)
None of these
Question-6
The Imputed value of rent form the land owned by the entrepreneur is an example of _______ cost.
(A)
Explicit cost
(B)
Implicit cost
(C)
Transitory cost
(D)
None of these
Question-7
_________ is the revenue earned per unit of the product sold.
(A)
Marginal revenue
(B)
Average revenue
(C)
Total revenue
(D)
All of these
Question-8
The average cost curve includes.
(A)
Normal profit
(B)
No normal profit
(C)
Super normal profit
(D)
none of these
Question-9
MC cuts the AC at _______.
(A)
Top side
(B)
minimum pint form below
(C)
minimum point from above
(D)
none of these
Question-10
The slope of the TR Curve is consistent under perfect competition indicates that ___________.
(A)
Horizontal
(B)
price is consistent
(C)
Straight
(D)
none of these
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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