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Question-1
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
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
Revenue received from the sale of additional unit is termed as
(A)
Average Revenue
(B)
Marginal Revenue
(C)
Total Revenue
(D)
Profit
Question-4
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-5
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-6
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-7
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-8
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-9
If law of diminishing return is in operation average cost
(A)
Decreases
(B)
Increases
(C)
Remains Constant
(D)
Decreases Slowly
Question-10
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
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Plus 2 Humanities
Kerala (English Medium)
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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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