Economics Mcqs — Test 56

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Question 1

The average variable cost curve ?

Question 2

Total increases from Rs500 to Rs600 when output increases from 20 to 30 units. Fixed costs are Rs200 Which of the following is true ?

Question 3

If marginal product is below average product ?

Question 4

If the price is less than the average costs but higher than the average variable costs ?

Question 5

In the long term a firm will produce provided the revenue covers ?

Question 6

The profit per sale is a measure of ?

Question 7

Total revenue equals ?

Question 8

If an economy moves from producing 10 units of A and 4 units of B to producing 7 As and 5Bs The opportunity cost of the 5th B is ?

Question 9

The resources in the economy do not include ?

Question 10

Any combination of products inside the production possibility frontier is ?