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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
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-3
When internal economies of scale occur?
(A)
Total costs fall
(B)
Marginal costs increase
(C)
Average costs fall
(D)
Revenue falls
Question-4
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-5
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
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
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-8
The profit per sale is a measure of
(A)
Cash Flow
(B)
Profitability
(C)
Feasibility
(D)
Liquidity
Question-9
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-10
If all the units of the product are sold at the same price average revenue will be __________ marginal revenue.
(A)
Equal to
(B)
More than
(C)
Lesser than
(D)
More or lesser than
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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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