A. Revenue – fixed costs
B. Fixed cost + revenue
C. Revenue – sales
D. Revenue – total costs
Profit is measured by ? Read More »
Economics Mcqs, Miscellaneous Economics Mcqs A. Marginal cost is zero
B. Marginal revenue is maximised
C. Marginal revenue is zero
D. Marginal revenue equals marginal cost
To maximise sales revenue a firm should produce where ? Read More »
Economics Mcqs, Miscellaneous Economics Mcqs A. Enable abnormal profits to be made in the long run
B. Enable losses to be made in the long run
C. Enable abnormal profits to be made in the short run only
D. Occur in perfect competition
Barriers to entry ? Read More »
Economics Mcqs, MCQs / Q&A A. The demand curve is the marginal cost curve
B. The average revenue equals the average cost
C. The marginal cost is the average cost curve
D. The demand curve is the marginal revenue
In perfect price discrimination ? Read More »
Economics Mcqs, MCQs / Q&A A. Marginal revenue in A= Price B
B. Marginal revenue in A = Marginal revenue B = Price A = Price B
C. Marginal revenue in A = Marginal revenue B = Marginal cost
D. Marginal revenue in A = Marginal revenue B = Average cost
A. No profit is being made
B. Total revenue equals total cost
C. Profits are maximised
D. Producing another unit would increase profits
If marginal revenue equals marginal cost ? Read More »
Economics Mcqs, Miscellaneous Economics Mcqs A. The average cost increase from Rs20 to Rs30
B. The total costs for 11 units are Rs700
C. The average cost for 10 units is Rs1300
D. The average cost for 11 units is Rs1300
A. covers fixed costs
B. covers variable costs
C. covers total costs
D. covers revenue
In the short term a firm will produce provided the revenue ? Read More »
Economics Mcqs, Miscellaneous Economics Mcqs A. They will aim to leave the industry
B. Other firms will join the industry
C. The revenue equal total costs
D. No profit is made is accounting terms
If firms earn normal profits ? Read More »
Economics Mcqs, Miscellaneous Economics Mcqs A. Reduce output
B. Increase output
C. Leave output where it is:
D. Increase costs
