11th Principles of Economics MCQS
One of the following is not included in implicit cost
Interest of entrepreneur’s own capital
Rent of building
Reward of entrepreneur’s own labour
Reward of entrepreneur’s own land
When average cost curve id falling, then marginal cost curve
Is vertical
Remains below it
Remains parallel to it
Remains above it
Which curve represents demand curve also
Total revenue
Average revenue
Marginal revenue
Marginal cost
Which is not included in variable cost
Advertisement expenditures
price of raw material
wages of labour
rent of builiding
Short run cost curves are generally
flatter
oval
saucer shaped
u shaped
Average revenue is equal to
Marginal revenue
Price
Total revenue
Average cost
Under monopoly average revenue curve remains ______ the marginal revenue curve
Above
Parallel to
Below
None of three
When average cost falls marginal cost is —————- average cost
A and C
Equal to
More than
Less than
Number of firms under monopoly is
Three
One
Four
Two
The slope of MR curve in monopoly is
Negative
Horizontal
Increasing
Vertical
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