11th Principles of Economics MCQS Chapter 6

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11th Principles of Economics MCQS
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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

When production of a firm increases then total variable costs
Do not change
Remain constant

Under monopoly average revenue curve remains the marginal revenue curve
None of these

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
Price of raw material
Wages of permanent labour
Capital goods

Dividing total costs by the units of output is attained
Marginal cost
Average variable cost
Average fixed cost
Average cost

Average cost curve is in short run
Negative sloped
Positive sloped

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