Most Updated Average And Total Cost MCQs ( Economics ) MCQs – Competitive Economics MCQs

Most Updated Average And Total Cost MCQs ( Economics ) MCQs – Competitive Economics MCQs

This post is comprising of latest ” ( Economics ) MCQs – Latest Competitive Medical MCQs “. Here you’ll get latest Economics mcqs for written test, interview with answers. If you want to improve your knowledge regarding Economics then read these mcqs of Design of Steel Structures.

Latest Economics MCQs

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Latest Average And Total Cost Mcqs ( Economics ) Mcqs

The most occurred mcqs of Average And Total Cost Mcqs ( Economics ) in past papers. Past papers of Average And Total Cost Mcqs ( Economics ) Mcqs. Past papers of Average And Total Cost Mcqs ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Average And Total Cost Mcqs ( Economics ) Mcqs. The Important series of Average And Total Cost Mcqs ( Economics ) Mcqs are given below:

If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?

A. be flat (horizontal)
B. slope downward
C. slope upward
D. be U-shaped.

When marginal costs are below average total costs ?

A. average total cost is raising
B. average total cost is falling
C. average fixed cost is rising
D. average total cost is minimized

Which of the following statements is true ?

A. All costs are variable in the short run
B. All costs are variable in the long run
C. All costs are fixed in the short run.
D. All costs are fixed in the long run

If a production function exhibits diminishing marginal product. its slope ?

A. could be any of these answers
B. becomes steeper as the quantity of the input increase
C. is linear (a straight line)
D. becomes flatter as the quantity of the input increase

Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The economics profit at Naila’s pottery factory is ?

A. Rs75,000
B. Rs30,000
C. Rs80,000
D. Rs70,000

Economic profit is equal to total revenue minus ?

A. explicit costs
B. implicit costs
C. variable costs
D. marginal costs

The Meaning And Measurement Of Economic Development MCQs

The efficient scale of production is the quantity of output that minimizes ?

A. average variable cost
B. average total cost
C. average fixed cost
D. marginal cost

In the long run, if a very small factory were to expand its scale of operations it is likely that it would initially experience ?

A. diseconomies of scale
B. an increase in average total costs
C. economies of scale
D. constant returns to scale

If marginal costs equal average total costs ?

A. average total cost is raising
B. average total cost is falling
C. average total cost is maximized
D. average total cost is minimized

Which of the following is a variable cost in the short run ?

A. interest payments on borrowed financial capital
B. wages paid to factory labor
C. rent on the factory
D. payments on the lease for factory equipment
E. salaries paid to upper management

If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ?

A. is liner (a straight line)
B. become flatter as the quantity of output increases.
C. becomes steeper as the quantity of output increases
D. could be any of these answers

If there are implicit costs of production ?

A. accounting profit will exceed economic profit
B. accounting profit will always be zero
C. economic profit will exceed accounting profit
D. economic profit will always be zero
E. economic profit and accounting profit will be equal

Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The accounting profit at Naila’s pottery factory is ?

A. Rs35,000
B. Rs30,000
C. Rs75,000
D. Rs70,000

Accounting profit is equal to total revenue minus ?

A. variable costs
B. implicit costs
C. the sum of implicit and explicit costs.
D. explicit costs.
E. marginal costs

Most Updated Average And Total Cost MCQs ( Economics ) MCQs – Competitive Economics MCQs

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