CSS :: Cost Of Production

1.  In Monopoly at various output levels:
 A. AR = MR B. AR < MR C. AR > MR D. None of these

2.  Excise tax is a part of:
 A. Fixed cost B. Variable cost C. Implicit cost D. Is not a part of cost

3.  The shape of rectangular hyperbola is made by:
 A. MC B. AFC C. AVC D. None of these

4.  As output increases:
 A. MC curve firstly falls then rises B. MC firstly rises then falls C. MC continuously rises D. None of these

5.  Unit cost is another name for:
 A. MC B. AVC C. ATC D. AFC

6.  All inputs can be varied:
 A. Short run B. Long run C. Both periods D. Non of the period

7.  Which statement is true:
 A. ATC + AVC = AFC B. ATC + MC = AFC C. ATC + AFC = AVC D. AFC + AVC = ATC

8.  Which is NOT a cause of shift in cost curves of a firm:
 A. Excise tax B. Prices of inputs C. Increase in productivity D. Price of product

9.  MC is given by:
 A. Slope of TFC B. Slope of TC C. Slope of AC D. None of these

10.  TC
 A. Starts from origin B. Does not start from origin C. Is parallel to Y-axis D. None of these