Smartindia Classroom
CONTENTS
English
Mathematics
Economics
Accountancy
Business Studies
Computer Application
Back to home
Start Practice
Question-1
The average variable cost curve:
(A)
Is derived from the average fixed costs
(B)
Converges with the average cost as output increases
(C)
Equals the total costs divided by the output
(D)
Equals revenue minus profits
Question-2
The profit per sale is a measure of
(A)
Cash Flow
(B)
Profitability
(C)
Feasibility
(D)
Liquidity
Question-3
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-4
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-5
If total units sold of the commodity are multiplied by the cost per unit of the commodity we shall get
(A)
Average Revenue
(B)
Total Revenue
(C)
Marginal Revenue
(D)
Profit
Question-6
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-7
When internal economies of scale occur?
(A)
Total costs fall
(B)
Marginal costs increase
(C)
Average costs fall
(D)
Revenue falls
Question-8
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-9
Wages is __________ cost of the production.
(A)
Fixed
(B)
Variable
(C)
Opportunity
(D)
Marginal
Question-10
Revenue received from the sale of additional unit is termed as
(A)
Average Revenue
(B)
Marginal Revenue
(C)
Total Revenue
(D)
Profit
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
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)
Powered By
