MCQ Economics Class 12 Chapter 4 The Theory of Firm Under Perfect Competition Microeconomics

Advertisement

MCQ’s For All Chapters – Microeconomics Class 12th

1. At the profit-maximising output, marginal cost should be:

Question 1 of 20

2. In the short run, a firm can continue producing when the market price is:

Question 2 of 20

3. In the long run, a firm must have the market price:

Question 3 of 20

4. If the market price is below the minimum AVC in the short run, the firm will:

Question 4 of 20

5. If the market price is below the minimum LRAC in the long run, the firm will:

Question 5 of 20

6. The short-run supply curve of a firm is the:

Question 6 of 20

7. The long-run supply curve of a firm is the:

Question 7 of 20

8. The short-run shut-down point occurs at the:

Question 8 of 20

9. In the long run, the shut-down point is determined by the:

Question 9 of 20

10. The minimum level of profit needed to keep a firm in its existing business is called:

Question 10 of 20

11. Profit earned over and above normal profit is called:

Question 11 of 20

12. The point at which a firm earns only normal profit is called the:

Question 12 of 20

13. Technological progress generally shifts a firm's supply curve:

Question 13 of 20

14. An increase in the price of an input generally shifts the firm's supply curve:

Question 14 of 20

15. A unit tax is a tax imposed by the government:

Question 15 of 20

16. The imposition of a unit tax shifts a firm's long-run supply curve:

Question 16 of 20

17. The market supply curve is obtained by:

Question 17 of 20

18. If the number of firms in a market increases, the market supply curve shifts:

Question 18 of 20

19. Price elasticity of supply measures the responsiveness of:

Question 19 of 20

20. When a straight-line supply curve passes through the origin, its price elasticity of supply is:

Question 20 of 20


 

MCQ
Quiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

CBSE Board English Medium

CBSE Board Hindi Medium

बिहार बोर्ड

उत्तर प्रदेश बोर्ड

महाराष्ट्र बोर्ड

मध्य प्रदेश बोर्ड

ગુજરાત બોર્ડ

PSC Exam Preparation

Install App

Install our app for the best experience!