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Question-1
Price equals
(A)
Total revenue - Quantity
(B)
Total revenue/Quantity sold
(C)
Total quantity sold × Quantity sold
(D)
Total revenue/Total cost
Question-2
If total revenue is divided by the units sold, we shall get
(A)
Total Revenue
(B)
Average Revenue
(C)
Marginal Revenue
(D)
Total Profit
Question-3
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-4
If firms earn normal profits :
(A)
They will aim to leave the industry
(B)
Other firms will join the industry
(C)
The total revenue equal total costs
(D)
No profit is made in accounting terms
Question-5
If marginal product is below average product:
(A)
The total product will fall
(B)
The average product will fall
(C)
Average variable costs will fall
(D)
Total revenue will fall
Question-6
If the marginal revenue is less than the marginal cost than to profit maximum a firm should:
(A)
Reduce Output
(B)
Increase Output
(C)
Leave output where it is
(D)
Increase Costs
Question-7
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-8
Average revenue is always __________ the price of the commodity.
(A)
More than
(B)
Equal to
(C)
Lesser than
(D)
More or lesser than
Question-9
If marginal cost is positive and falling
(A)
Total cost is falling
(B)
Total cost is increasing at a falling rate
(C)
Total cost is falling at a falling rate
(D)
Total cost is increasing at an increasing rate
Question-10
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
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Plus 2 Commerce
Kerala (English Medium)
Practice in Related Chapters
INTRODUCTION TO MICROECONOMICS - THEORY
CONSUMER BEHAVIOUR AND DEMAND
THEORY OF CONSUMER BEHAVIOUR
INTRODUCTION TO MACRO ECONOMICS
Money and Banking
The Theory of Consumer Behaviour (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Introduction to Micro Economics
Production Function-Returns to a Factor(Micro)
Supply and Elasticity of Supply (Micro)
Cost, Revenue and Producer's Equilibrium(Micro)
Forms of Market (Micro)
The Theory of the firm Under Perfect Competition
Aggreggate Demand and Aggregate Supply
National Income Accounting and Circular flow of Income (Macro)
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