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Question-1
If law of diminishing return is in operation average cost
(A)
Decreases
(B)
Increases
(C)
Remains Constant
(D)
Decreases Slowly
Question-2
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-3
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-4
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-5
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-6
The profit per sale is a measure of
(A)
Cash Flow
(B)
Profitability
(C)
Feasibility
(D)
Liquidity
Question-7
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-8
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-9
When internal economies of scale occur?
(A)
Total costs fall
(B)
Marginal costs increase
(C)
Average costs fall
(D)
Revenue falls
Question-10
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
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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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