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Question-1
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-2
Average revenue is always __________ the price of the commodity.
(A)
More than
(B)
Equal to
(C)
Lesser than
(D)
More or lesser than
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
Wages is __________ cost of the production.
(A)
Fixed
(B)
Variable
(C)
Opportunity
(D)
Marginal
Question-5
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-6
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-7
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-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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