Pricing Practices

Pricing Practices

University

20 Qs

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Pricing Practices

Pricing Practices

Assessment

Quiz

Other, Social Studies

University

Practice Problem

Hard

Created by

Sunit Das

Used 18+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Marginal cost of producing output includes which of the following?

Direct Labour

Raw Material

Direct expenses of the producer

All of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Marginal Cost = Prime costs + ______________.

Average Cost

Total Fixed Cost

Variable overheads

Transfer price

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The increase or decrease in the volume of production upto a certain extent influences only the _______________ whereas, the _________________ remain unaffected.

Variable overheads; Fixed overheads

Fixed Overheads; Variable Overheads

Variable Overheads; Capital Accumulation

Fixed Overheads; Depreciation costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under Marginal Cost Pricing, equilibrium output is determined where marginal cost equals _____________

Total revenue

Marginal revenue

Total profit

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the marginal cost pricing, Public undertakings producing essential to public goods may decide to charge a __________________ equal to MC.

Higher price

Price

Lower price

Total Profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In case a public undertaking decides to produce commodities which are mainly purchased by higher income groups such as mineral water, petrol, services like air travel etc. and if the demand is assumed to be sufficiently large, the price can be _______________

equal or lower than average cost

equal to average cost

equal or higher than average cost

none of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to control monopoly or regulate the price charged by a monopoly firm, the government may impose a price based on ________________.

Total Fixed Cost

Total Variable Cost

Total Cost

Marginal Cost

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