Smartindia Classroom
CONTENTS
English
Economics
History
Geography
Political Science
Sociology
Psychology
Computer Application
Back to home
Start Practice
Question-1
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-2
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-3
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-4
Wages is __________ cost of the production.
(A)
Fixed
(B)
Variable
(C)
Opportunity
(D)
Marginal
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
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-7
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-8
__________ increases and decreases with the volume of output.
(A)
Fixed Cost
(B)
Variable Cost
(C)
Total Cost
(D)
Money Cost
Question-9
If firms earn normal profits :
(A)
They will aim to leave the industry
(B)
Other firms will join the industry
(C)
The total revenue equal total costs
(D)
No profit is made in accounting terms
Question-10
Revenue received from the sale of additional unit is termed as
(A)
Average Revenue
(B)
Marginal Revenue
(C)
Total Revenue
(D)
Profit
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
Plus 2 Humanities
Kerala (English Medium)
Practice in Related Chapters
Forms of Market
National Income
Indian Economy 1950 - 1990
National Income Accounting
The Theory of Consumer Behaviour (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Market Equilibrium Under Perfect Competition (Micro)
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)
Powered By
