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Question-1
Average fixed cost is
(A)
Never becomes zero
(B)
Curve never touches x - axis
(C)
Curve never touches y - axis
(D)
All the above
Question-2
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-3
The profit per sale is a measure of
(A)
Cash Flow
(B)
Profitability
(C)
Feasibility
(D)
Liquidity
Question-4
Which one of the following statements is true?
(A)
If the marginal cost is greater than the average cost falls
(B)
If the marginal cost is greater than the average cost the average cost increases
(C)
If the marginal cost is positive total costs are maximized
(D)
If the marginal cost is negative total costs increase at a decreasing rate of output increases
Question-5
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-6
When internal economies of scale occur?
(A)
Total costs fall
(B)
Marginal costs increase
(C)
Average costs fall
(D)
Revenue falls
Question-7
Average revenue is always __________ the price of the commodity.
(A)
More than
(B)
Equal to
(C)
Lesser than
(D)
More or lesser than
Question-8
Price equals
(A)
Total revenue - Quantity
(B)
Total revenue/Quantity sold
(C)
Total quantity sold × Quantity sold
(D)
Total revenue/Total cost
Question-9
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-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 Humanities
Kerala (English Medium)
Practice in Related Chapters
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Production Function-Returns to a factor(Micro)
Supply and Elasticity of Supply
Cost Revenue and Producers Equilibrium
Forms of Market
National Income Accounting and Circular flow of Income (Macro)
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