WorksheetsCost & Revenue
Total questions: 8
Worksheet time: 4mins
Name
Class
Date
1.
Cost is the expenditure made by (a)
2.
Total Cost is obtained by adding .........
a)
All AVC
b)
All Fixed Costs
c)
All Variable Costs
d)
TFC and TVC
3.
Normally, Marginal Cost is calculated as ..........
a)
d(TVC)/dQ
b)
d(TFC)/dQ
c)
d(TC)/dQ
d)
TC1 + TC2
4.
AC is U-shaped because of .......
a)
AC = AVC + AFC
b)
Economies of Scale
c)
Diseconomies of Scale
d)
All of these reasons
5.
MC cuts AC and AVC to their...............
a)
Maximum
b)
Begining
c)
Minimum
d)
Ending
6.
Average revenue is also known by ....
a)
Price
b)
TR - TC
c)
MR
d)
TR ÷ MR
7.
In a Perfect Competition market there is .....
a)
P = AR
b)
P = MR
c)
P = AR - MR
d)
P = AR = MR
8.
In the imperfect competition market, when demand curve or AR is a straight line then MR passes through ...........
a)
Mid-way from AR and Y-axis
b)
Parallel to AR
c)
Nearer by Y-axis
d)
Nearer by AR
100 %
