Profit Maximization Test 01 Mcqs Preparation Online Leave a Comment / Economics / By Shani Malik Profit Maximization Test 01 Mcqs Preparation Online 1. Profit is maximum when:A. MC and MR curves are parallelB. AC and AR curves are parallelC. TC and TR curves are parallel D. None of these 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. Increase in output in imperfect but not necessarily in perfect competitionC. Decrease in output in both perfect and imperfect competitionD. Increase in perfect competition but not necessarily in imperfect competition Loading... 3. Profit is maximum when:A. Slope of TC and TR is the sameB. Slope of AC and AR is the same C. Slope of MC and MR is the sameD. None of these Loading... 4. Normal profit is:A. Part of economic profitB. Total revenue minus total cost C. Total revenue minus implicit costD. Part of total cost Loading... 5. Profit is maximum when:A. None of theseB. Distance between AR and AC is maximumC. Distance between MR and MC is maximumD. Distance between TR and TC is maximum Loading... 6. A firm earns economic profit when total profit exceeds:A. Explicit costsB. Implicit costsC. Variable costsD. Normal profit Loading... 7. The basic goal of a firm is to:A. Maximize welfare of its employeesB. Maximize revenues C. Maximize profitD. Maximize output Loading... 8. At the point of equilibrium of firm (under perfect competition):A. MC curve must be fallingB. MC curve must be risingC. MR curve must be risingD. None of these Loading... 9. Economic profit is:A. Total revenue minus total costB. Total variable cost minus total fixed costC. Part of total costD. Total revenue minus explicit cost Loading... 10. The necessary condition for equilibrium position of a firm is:A. MC > MRB. MC > PriceC. MC = MRD. MC = AC Loading... Loading... Related NTS Results Post:Biology Mcqs Test 08 Online PreparationBiology Mcqs Test 06 Online PreparationBiology Mcqs Test 07 Online PreparationBiology Mcqs Test 09 Online PreparationBiology Mcqs Test 11 Online PreparationChemistry MCQs Test 07 Online PreparationBiology Mcqs Test 14 Online PreparationIslamiat Mcqs Test 01 Online Preparation
