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Question-1
Average variable cost is estimated by _________.
(A)
Total variable cost plus number of units
(B)
Total variable cost divided by number of units
(C)
Total variable cost minus number of units
(D)
Total variable cost multiplied by number of units.
Question-2
The ATC is ________ sloped at the higher levels of output.
(A)
Negatively
(B)
positively
(C)
Parallel
(D)
Any of these
Question-3
The AVC increases after the optimum capacity level of output due to _________.
(A)
Increasing returns
(B)
decreasing returns
(C)
Constant returns to scale
(D)
None of these
Question-4
.............is the minimum payment which a producer must get in order to induce him to undertake risk of production.
(A)
Explicit cost
(B)
Implicit cost
(C)
Transitory cost
(D)
normal profit
Question-5
_________ cost is a wider concept.
(A)
Private
(B)
social
(C)
mixed
(D)
None of these
Question-6
The MC is _________ slopped at the higher levels of output
(A)
Negatively
(B)
positively
(C)
Parallel
(D)
None of these
Question-7
Th U shape of the LAC curves can also be explained with the help of _________.
(A)
Internal economies only
(B)
Diseconomies only
(C)
External economies only
(D)
Internal economies and diseconomies
Question-8
When the MC is greater than AC,the AC ________ with increases in output.
(A)
Rises
(B)
falls
(C)
remains constant
(D)
None of these
Question-9
If price of th pen is RS. 5 and in a financial year the firm produces 2000 units of pen. The total revenue of the firm would be _________.
(A)
2005
(B)
1500
(C)
1995
(D)
None of these
Question-10
An increase in the fixed costs of the firm results in _________________.
(A)
Change in marginal cost but not the total costs
(B)
Change in variable costs but not marginal costs
(C)
change in marginal costs but not variable costs
(D)
Change in marginal cost and total costs.
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
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Law of Supply and Price Elasticity of Supply
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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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