Economics Profit Maximization Test 01 Mcqs Preparation Online 0 Profit Maximization Test 01 Mcqs Preparation Online 1. Profit is maximum when:A. None of theseB. Slope of MC and MR is the sameC. Slope of TC and TR is the sameD. Slope of AC and AR is the same Loading... 2. A firm's MR exceeds its MC, maximum profit rule requires that firm to:A. Increase in output in both perfect and imperfect competition B. Decrease in output in both perfect and imperfect competitionC. Increase in perfect competition but not necessarily in imperfect competition D. Increase in output in imperfect but not necessarily in perfect competition Loading... 3. A firm earns economic profit when total profit exceeds:A. Implicit costsB. Normal profitC. Explicit costsD. Variable costs Loading... 4. Profit is maximum when:A. TC and TR curves are parallel B. AC and AR curves are parallelC. MC and MR curves are parallelD. None of these Loading... 5. Normal profit is:A. Total revenue minus total cost B. Part of total costC. Total revenue minus implicit costD. Part of economic profit Loading... 6. The basic goal of a firm is to:A. Maximize welfare of its employeesB. Maximize outputC. Maximize profitD. Maximize revenues Loading... 7. Economic profit is:A. Total revenue minus total costB. Total revenue minus explicit costC. Total variable cost minus total fixed costD. Part of total cost Loading... 8. The necessary condition for equilibrium position of a firm is:A. MC > PriceB. MC = AC C. MC > MRD. MC = MR Loading... 9. At the point of equilibrium of firm (under perfect competition):A. MR curve must be risingB. MC curve must be fallingC. MC curve must be risingD. None of these Loading... 10. Profit is maximum when:A. Distance between MR and MC is maximumB. Distance between AR and AC is maximumC. None of theseD. Distance between TR and TC is maximum Loading... Loading... Related PostsWages Rent Interest and Profit 02 Mcqs Preparation OnlineWages Rent Interest and Profit 01 Mcqs Preparation OnlineWages Rent Interest and Profit 03 Mcqs Preparation OnlinePhysics MCQs Online Test 02 for PreparationPhysics MCQs Online Test 01 for PreparationPhysics MCQs For Entry Test 01 Online PreparationPhysics MCQs For Entry Test 2 Online PreparationPakistan Studies MCQs Test 01 Online for PreparationPakistan Studies MCQs Test 02 Online for PreparationPakistan Studies MCQs Test 03 Online for Preparation Continue Reading Previous Scale Of Production and Laws of Returns Mcqs Test Preparation OnlineNext Pakistan National income Test 01 Mcqs 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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