Quiz  /  Cost concept Class 11 MCQ Questions With Answers

  • 1. 
    Salary given to permanent staff is an example of which kind of cost

  • fixed cost
  • variable cost

  • 2. 
    AC is equal to MC where

  • AC is minimum
  • MC is minimum

  • 3. 
    A person using his own capital in business is an e.g of

  • implicit cost
  • explicit cost

  • 4. 
    The shape of Marginal cost is

  • U shaped
  • S shaped

  • 5. 
    The MC curve cuts AC at its

  • highest point
  • minimum point

  • 6. 
    ATC is a summation of

  • AFC and AVC
  • FC and VC

  • 7. 
    Change in cost is

  • MC
  • AC

  • 8. 
    Cost per unit of output is

  • AC
  • MC

  • 9. 
    The shape of AFC is

  • rectangular hyperbole
  • S shaped

  • 10. 
    Types of cost are

  • fixed and variable
  • Avg and full
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