Cost and Revenue Test

Result

Cost and Revenue Test - 3

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Weekly Quiz Competition

Question 1
1 / -0

Profit =

A
Revenue – Costs

B
Revenue + Costs

C
Revenue × Costs

D
Revenue ÷ Costs
Question 2
1 / -0

Money receipts of a producer from the sale of his total output is called:

A
total profit

B
total revenue

C
average revenue

D
marginal revenue
Question 3
1 / -0

Under perfect competition, MR is a:

A
downward sloping line

B
upward sloping line

C
horizontal line parallel to X-axis

D
none of these
Question 4
1 / -0

Under perfect competition, AR is:

A
equal to MR

B
parallel to X-axis

C
both (a) and (b)

D
none of these
Question 5
1 / -0

Under monopoly, MR curve is:

A
downward sloping line

B
upward sloping line

C
horizontal line parallel to X-axis

D
vertical line parallel to Y-axis
Question 6
1 / -0

When MR is zero, TR is:

A
increasing

B
diminishing

C
maximum

D
minimum
Question 7
1 / -0

When AR is decreasing:

A
MR should be increasing

B
MR should be decreasing, no matter faster or slower than AR

C
MR should be decreasing faster than AR

D
MR should be decreasing slower than AR
Question 8
1 / -0

Declining AR implies:

A
less of a commodity is sold

B
less of a commodity is sold only when price is lowered

C
more of a commodity is sold

D
more of a commodity is sold only when price is lowered
Question 9
1 / -0

Firm’s AR curve is perfectly elastic under:

A
perfect competition

B
monopoly

C
monopolistic competition

D
all of these
Question 10
1 / -0

Demand curve under monopolistic competition is:

A
perfectly elastic

B
relatively more elastic

C
relatively less elastic

D
none of these
Question 11
1 / -0

When profit of a firm is ₹ 270 and the cost incurred is ₹ 900, revenue receipts of that firm will be:

A
₹ 3.33

B
₹ 630

C
₹ 1,170

D
none of these
Question 12
1 / -0

When price of a commodity is ₹ 30 per unit and 5 units of that commodity is sold by the firm in the market, total revenue in this case will be:

A
₹ 5

B
₹ 30

C
₹ 150

D
none of these
Question 13
1 / -0

If first unit of a commodity is sold at a price of ₹ 20 and marginal revenue from second unit is ₹ 16, then TR of the firm would be:

A
₹ 18

B
₹ 20

C
₹ 16

D
₹ 36

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Question Analysis

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Re-Attempt Weekly Quiz Competition

Cost and Revenue Test - 3

Result

Cost and Revenue Test - 3

Score

-

Rank

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SHARING IS CARING

Question 1

Revenue – Costs

Revenue + Costs

Revenue × Costs

Revenue ÷ Costs

Question 2

total profit

total revenue

average revenue

marginal revenue

Question 3

downward sloping line

upward sloping line

horizontal line parallel to X-axis

none of these

Question 4

equal to MR

parallel to X-axis

both (a) and (b)

none of these

Question 5

downward sloping line

upward sloping line

horizontal line parallel to X-axis

vertical line parallel to Y-axis

Question 6

increasing

diminishing

maximum

minimum

Question 7

MR should be increasing

MR should be decreasing, no matter faster or slower than AR

MR should be decreasing faster than AR

MR should be decreasing slower than AR

Question 8

less of a commodity is sold

less of a commodity is sold only when price is lowered

more of a commodity is sold

more of a commodity is sold only when price is lowered

Question 9

perfect competition

monopoly

monopolistic competition

all of these

Question 10

perfectly elastic

relatively more elastic

relatively less elastic

none of these

Question 11

₹ 3.33

₹ 630

₹ 1,170

none of these

Question 12

₹ 5

₹ 30

₹ 150

none of these

Question 13

₹ 18

₹ 20

₹ 16

₹ 36

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Question Analysis

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