CBSE  /  Class 11  /  Economics  /  Production and Costs

  • 1. 
    In which market AR curve is parallel to X-axis ?

  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • In all the above

  • 2. 
    Which of the following is a true statement ?

  • AR indicates price
  • AR Curve and Demand Curve are the same
  • Both (a) and (b)
  • None of the above

  • 3. 
    The basic condition of firm’s equilibrium is:

  • MC = MR
  • MR = TR
  • MR = AR
  • AC = AR

  • 4. 
    In final equilibrium of firm:

  • MC cuts MR from above
  • MC cuts MR from below
  • Both (a) and (b) are
  • None of the above is true

  • 5. 
    For every market, which condition has to be fulfilled for firm’s equilibrium ?

  • AR = MC
  • MR = MC
  • MC should cut MR from below
  • Both (b) and (c)

  • 6. 
    Which is a method of producer’s equilibrium ?

  • TR and TC Method
  • MR and MC Method
  • Both (a) and (b)
  • None of the above

  • 7. 
    For a firm’s equilibrium:

  • MR = MC
  • MR > MC
  • MR < MC
  • MR = MC = 0

  • 8. 
    On which assumption, the law of supply depends ?

  • There should be no change in income levels of buyers and sellers in the market.
  • Prices of factors of production remain stable
  • Technological level remains constant
  • All the above

  • 9. 
    If other things being same, what does the positive relationship between price and supply quantity signify ?

  • Law of Demand
  • Elasticity of Supply
  • Law of Supply
  • Supply Function

  • 10. 
    The reason of decrease in supply is:

  • Increase in Production Cost
  • Increase in Price of Substitutes
  • Fall in number of Firms in the Industry
  • All the above
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