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Cost and Revenue Analysis

Cost and Revenue Analysis

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Question 1
Cost refers to ________
A
price
B
value
C
fixed cost
D
cost of production
Question 2
Cost functions are derived from _______________ function
A
production
B
investment
C
demand
D
consumption
Question 3
Money cost is also known as____________ cost
A
explicit
B
implicit
C
social
D
real
Question 4
Explicit cost plus implicit cost denote ___________ cost.
A
social
B
economic
C
money
D
fixed
Question 5
Explicit costs are termed as
A
out of pocket expenses
B
real cost
C
social cost
D
sunk cost
Question 6
The costs of self–owned resources are termed as ________ cost.
A
real
B
explicit
C
money
D
implicit
Question 7
The cost that remains constant at all levels of output is _______ cost.
A
fixed
B
variable
C
real
D
social
Question 8
Identify the formula of estimating average variable cost
A
TC/Q
B
TVC/Q
C
TFC/Q
D
TAC/Q
Question 9
The cost incurred by producing one more unit of output is______cost.
A
variable
B
fixed
C
marginal
D
total
Question 10
The cost that varies with the level of output is termed as _______ cost.
A
money
B
variable cost
C
total cost
D
fixed cost
Question 11
Wage is an example for ________ cost of the production.
A
fixed
B
variable
C
marginal
D
opportunity
Question 12
The cost per unit of output is denoted by _________ cost.
A
average
B
marginal
C
variable
D
total
Question 13
Identify the formula of estimating average cost.
A
AVC/Q
B
TC/Q
C
TVC/Q
D
AFC/Q
Question 14
Find total cost where TFC=I00 and TVC = 125
A
125
B
175
C
225
D
325
Question 15
Long-run average cost curve is also called as __________ curve.
A
demand
B
planning
C
production
D
sales
Question 16
Revenue received from the sale of products is known as _______ revenue
A
profit
B
total revenue
C
average
D
marginal
Question 17
Revenue received from the sale of additional unit is termed as ________ revenue.
A
profit
B
average
C
marginal
D
total
Question 18
Marginal revenue is the addition made to the
A
total sales
B
total revenue
C
total production
D
total cost
Question 19
When price remains constant, AR will be ________ MR.
A
equal to
B
greater than
C
less than
D
not related to
Question 20
A book seller sold 40 books with the price of Rs.10 each. The total revenue of the seller is Rs.___________.
A
100
B
200
C
300
D
400
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There are 20 questions to complete.

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