CBSE Class 11 Economics Production and Costs Quiz 5

MCQ Mojo

Quiz Guides

Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 Class 12

Quiz Guides

CBSE

Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 Class 8 Class 9 Class 10 Class 11 Class 12

Toggle dark mode

CBSE › Class 11 › Economics › Production and Costs

1/10

0:00

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

A Perfect Competition B Monopoly C Monopolistic Competition D In all the above

2. Which of the following is a true statement ?

A AR indicates price B AR Curve and Demand Curve are the same C Both (a) and (b) D None of the above

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

A MC = MR B MR = TR C MR = AR D AC = AR

4. In final equilibrium of firm:

A MC cuts MR from above B MC cuts MR from below C Both (a) and (b) are D None of the above is true

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

A AR = MC B MR = MC C MC should cut MR from below D Both (b) and (c)

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

A TR and TC Method B MR and MC Method C Both (a) and (b) D None of the above

7. For a firm’s equilibrium:

A MR = MC B MR > MC C MR < MC D MR = MC = 0

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

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

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

A Law of Demand B Elasticity of Supply C Law of Supply D Supply Function

10. The reason of decrease in supply is:

A Increase in Production Cost B Increase in Price of Substitutes C Fall in number of Firms in the Industry D All the above

Practice more on Production and Costs

Quiz 1 Quiz 2 Quiz 3 Quiz 4 Quiz 5 Quiz 6 Quiz 7

MCQ Mojo

Free chapter-wise MCQ practice with instant answers and explanations for CBSE classes 6–12 — plus timed mock tests. Learn smarter, score higher.