11th Principles of Economics MCQS
When a firm’s average total cost is equal to price, then it is called as
Normal loss
Normal profit
Abnormal loss
Abnormal profit
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Variable
Fixed costs
Average cost
Marginal cost
When average cost increases, marginal cost is – – – – – – average cost
Equal to
None of three
More than
Less than
Marginal cost curve cuts average cost curve when average cost is
Increasing
Maximum
Decreasing
Minimum
Dividing total revenue by the sold units of output, is attained
Total revenue
Marginal revenue
Average cost
Average revenue
Dividing total variable costs by the units of output, is attained
Average variable cost
Marginal cost
Average fixed cost
Average cost
Demand curve of a monopolist has the shape
Remains below MR curve
Falls from left to right
Rises from left to right
Remains parallel to ox-axis
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Marginal cost
Variable costs
Average cost
Fixed costs
The demand curve for monopolist is also called
Average revenue
Marginal revenue
Total revenue
Zero revenue
Which is the Demand Curve of a frim
Marginal Revenue Curve
Total Revenue Curve
Average cost curve
Average Revenue Curve
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