Economics Demand and Supply Mcqs Test 08 Preparation Online 0 Demand and Supply Mcqs Test 08 Preparation Online 1. In the short term, when the output of a firm increases, its average fixed cost?A. Decrease B. Remains constant C. First declines and then risesD. Increase Loading... 2. The supply of a commodity refers to?A. Stock available for sale B. Total existing stock of the commodity C. Amount of the commodity offered for sale at a particular price per unit of timeD. Actual production of the commodity Loading... 3. An ISO-product curve slopes?A. Upward to the rightB. Upward to the left C. Downward to the right D. Downward to the left Loading... 4. Which cost increases continuously with the increase in production?A. Variable costB. Average cost C. Marginal cost D. Fixed cost Loading... 5. Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost?A. Payment of rent on buildingsB. Interest payment on past borrowing C. Cost of equipment D. Cost of raw materials Loading... 6. Which of the following cost curves is never Un-shaped?A. Average variable cost curve B. Average cost curve C. Average fixed cost curveD. Marginal cost curve Loading... 7. The production techniques are technically efficient?A. Between the two ridge lines B. On the upper ridge lineC. Above the upper ridge line D. Below the lower ridge line Loading... 8. A significant property of the Cobb - Douglas production function is that the elasticity of substitution between inputs is?A. Less than unity B. More than unity C. Equal to unity D. Zero Loading... 9. A vertical supply curve parallel to the price axis implies that the elasticity of supply is?A. Equal to one B. Zero C. Greater than zero but less than infinityD. Indinity Loading... 10. Production is a function of?A. Costs B. Inputs C. ProfitsD. Price Loading... Loading... Related PostsDemand and Supply Mcqs Test 01 Preparation OnlineDemand and Supply Mcqs Test 02 Preparation OnlineDemand and Supply Mcqs Test 03 Preparation OnlineDemand and Supply Mcqs Test 04 Preparation OnlineDemand and Supply Mcqs Test 05 Preparation OnlineDemand and Supply Mcqs Test 06 Preparation OnlineDemand and Supply Mcqs Test 07 Preparation OnlineUpwork Top Freelancer Skills 2023 Make Money OnlinePhysics MCQs Online Test 02 for PreparationPhysics MCQs Online Test 01 for Preparation Continue Reading Previous Demand and Supply Mcqs Test 07 Preparation OnlineNext Equilibrium of firm Perfect Competition and Monopoly Test 01 Preparation Online More Stories Economics Economics Quiz 04 Preparation Online 0 Economics Economics Quiz 03 Preparation Online 0 Economics Economics Quiz 02 Preparation Online 0 Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ
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