TNPSC Economics Gk | Quiz | MCQ| Online Test | Objective Questions - 2

Question: 6

The change in total cost is called

(A) Total variable cost

(B) Marginal cost

(C) Average cost

(D) Average fixed cost

Ans: B

Marginal cost

Question: 7

______ is obtained dividing the total fixed cost by the number of units produced.

(A) AFC

(B) AVC

(C) TFC

(D) TVC

Ans; A

AFC

Question: 8

Price X quantity =

(A) Total cost

(B) Total revenue

(C) Average revenue

(D) Marginal revenue

Ans: B

Total revenue

Question: 9

____ are those costs, which are directly paid out or accounted by the producer.

(A) Accounting cost

(B) Economic cost

(C) Private cost

(D) Real cost

Ans; A

Accounting cost

Question: 10

A firm pays ___ for labour.

(A) Wages

(B) Rent

(C) Interest

(D) Profit

Ans: A

Wages

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