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The costs which increase with the increase in output and decrease with the decrease in output, are called
Marginal cost
Fixed costs
Variable costs
Average costs
The costs which a firm bear only in case of producing commodities
Total costs
Average fixed cost
Fixed costs
Variable costs
When average cost falls, marginal cost is – – – – – – average cost
More than
Equal to
None of three
Less than
When total revenue is maximum, marginal revenue is
Zero
Constant
More
Less
When production of a firm increases then total variable costs
Increase
Do not change
Decrease
Remain constant
Under monopoly average revenue curve remains the marginal revenue curve
None of these
Parallel
Below
Above
Total expenditures which a firm bear to produce a particular quantity of output
Total costs
Fixed costs
Variable costs
Average fixed cost
Which one of the following represents fixed cost
Wages
Price of raw material
Wages of permanent labour
Capital goods
Dividing total costs by the units of output is attained
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