Which statement of the following is true ?
  • AC=TFC – TVC
  • AC = AFC + TVC
  • AC=TFC + AVC
  • AC = AFC + AVC
What is an opportunity cost ?
  • The alternative foregon
  • The opportunity lost
  • Transfer earnings
  • All of these
The shape of average cost curve is :
  • U-shaped
  • Reactangular Hyperbola shaped
  • Line parallel to x-axis
  • None of these
The average fixed cost at 5 units of output is Rs. Average variable cost at 5 units of output is Rs. Average cost of producing 5 units is:
  • Rs. 20
  • Rs. 40
  • Rs. 56
  • Rs. 60
Which of the following is correct ?
  • TVC = TC – TFC
  • TC = TVC-TFC
  • TFC = TVC + TC
  • TC = TVC x TFC
Average variable costs can be defined as:
  • TVC x Q
  • TVC + Q
  • TVC-Q
  • TVC ÷ Q
With increase in output, the difference between total cost and total variable cost:
  • Decreases
  • Increases
  • Remains Constant
  • None of the above
Which factors are used in short-run production process ?
  • Fixed Factors
  • Variable Factors
  • Both (a) and (b)
  • None of the above
In which market MR may become zero or negative ?
  • Monopoly
  • Monopolistic Competition
  • Both (a) and (b)
  • Perfect Competition
In which market AR = MR ?
  • Monopoly
  • Monopolistic Competition
  • Both (a) and (b)
  • Perfect Competition
In monopoly and monopolistic competition :
  • AR = MR
  • AR > MR
  • AR < MR
  • None of these
To which market, following figure belongs ?
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • None of the above
With which condition, firm will get maximum profit ?
  • Where MR = MC
  • Where MC cuts MR from below
  • Both (a) and (b)
  • None of the above
In perfect competition, which of the following remains constant ?
  • AR
  • MR
  • Both AR and MR
  • None of the both
In perfect competition:
  • AR = MR
  • AR > MR
  • MR < MC
  • MR = MC = 0
When 5 units of a goods are sold, total revenue is Rs. When 6 units are sold, marginal revenue is Rs. At what price are 6 units sold ?
  • Rs. 28 per unit
  • Rs. 20 per unit
  • Rs. 18 per unit
  • Rs. 12 per unit
MR is shown as:
  • \(\frac { ΔTR }{ ΔQ }\)
  • \(\frac { TR }{ Q }\)
  • \(\frac { ΔAR }{ Q }\)
  • None of these
AR is shown as:
  • \(\frac { TR }{ Q }\)
  • \(\frac { ΔQ }{ P }\)
  • \(\frac { ΔTR }{ ΔQ }\)
  • None of these
In which market AR curve is parallel to X-axis ?
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • In all the above
Which of the following is a true statement ?
  • AR indicates price
  • AR Curve and Demand Curve are the same
  • Both (a) and (b)
  • None of the above
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