Smartindia Classroom
CONTENTS
English
Economics
History
Geography
Political Science
Sociology
Psychology
Computer Application
Back to home
Start Practice
Question-1
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
Question-2
Wages is __________ cost of the production.
(A)
Fixed
(B)
Variable
(C)
Opportunity
(D)
Marginal
Question-3
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-4
Revenue received from the sale of additional unit is termed as
(A)
Average Revenue
(B)
Marginal Revenue
(C)
Total Revenue
(D)
Profit
Question-5
_________ are short run cost.
(A)
AC
(B)
MC
(C)
TC
(D)
All the above
Question-6
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-7
Price equals
(A)
Total revenue - Quantity
(B)
Total revenue/Quantity sold
(C)
Total quantity sold × Quantity sold
(D)
Total revenue/Total 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
_________ cannot be changed in the short period .
(A)
Fixed Cost
(B)
Production Cost
(C)
Total Cost
(D)
Variable Cost
Question-10
Average fixed cost is
(A)
Never becomes zero
(B)
Curve never touches x - axis
(C)
Curve never touches y - axis
(D)
All the above
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
