Economics MCQS with Answers 1st Year
Long run cost curves can be termed as.
Dish-shaped
V-shaped
Oval-shaped
U-shaped
As out put increases, AC curve
remains constant
all of the above
falls
rises
Long rum is a period
which affects larger more than smaller firms
in which a firm need not get loans
three years or longer
long enough to allow firms to change plant size and capacity
TC
falls then rises
rises continuously
is parallel to y-axis
is horizontal to x-axis
Total fixed cost curve is .
Sloping downward to the right
Sloping upward to the right
Parallel to the horizontal axis
Parallel to the vertical axis
All factors of productions are variable in the:
Short period
long period
None of the three
Marked period
Under monopoly:
AR = MR
AR > MR
AR = MR
AR < MR
One of the following does not represent imperfect competition.
Monopolistic Competition
Monopoly
Day to day market
Duopoly
Long run average cost curve is :
None of the three
U shaped
L shaped
Dish shaped
When AC curve rises, MC curve remains:
Negative
Equal AC
Above AC
Below AC
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