Economics MCQS with Answers 1st Year Chapter 13

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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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