11th Principles of Economics MCQS
The costs which the firm has to bear in every condition in the short period, are called
Total costs
Fixed costs
Marginal costs
Variable costs
To increase profit a firm minimises
demand
revenues
costs
supply
Wages of temporary labourers are
Variable cost
Fixed cost
Marginal cost
Total cost
Additional amount of money which a firm gets by selling an additional unit of output is called
Revenue
Marginal revenue
Average revenue
Total revenue
The shape of average cost curve in the short period is
Like English alphabet U
Positively sloping
Vertical
Horizontal
Dividing total fixed costs by the units of output, is attained
Average cost
Average fixed cost
Average variable cost
Marginal cost
Price of raw material, wages of temporary labourers, transport costs etc,are called
Total cost
Marginal cost
Fixed costs
Variable costs
Slope of average revenue and marginal revenue cures under monopoly is
positive
none of three
zero
negative
When average cost curve is rising, then marginal cost curve
Is vertical
Remains parallel to it
Remains below it
Remains above it
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