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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