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CA Foundation Exam  >  CA Foundation Tests  >  Business Economics Mock Test - 4 - CA Foundation MCQ

Business Economics Mock Test - 4 - CA Foundation MCQ


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30 Questions MCQ Test - Business Economics Mock Test - 4

Business Economics Mock Test - 4 for CA Foundation 2025 is part of CA Foundation preparation. The Business Economics Mock Test - 4 questions and answers have been prepared according to the CA Foundation exam syllabus.The Business Economics Mock Test - 4 MCQs are made for CA Foundation 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Business Economics Mock Test - 4 below.
Solutions of Business Economics Mock Test - 4 questions in English are available as part of our course for CA Foundation & Business Economics Mock Test - 4 solutions in Hindi for CA Foundation course. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free. Attempt Business Economics Mock Test - 4 | 60 questions in 100 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study for CA Foundation Exam | Download free PDF with solutions
Business Economics Mock Test - 4 - Question 1
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A firm has variable cost of Rs. 1,000 at 5 units of output. If fixed cost are Rs. 400, what will be the average total cost at 5 units of output?

Detailed Solution for Business Economics Mock Test - 4 - Question 1

To determine the Average Total Cost (ATC) at 5 units of output, follow these steps:

  1. Understand the Components:

    • Variable Cost (VC): This is the cost that changes with the level of output. Here, it's Rs. 1,000 for 5 units.
    • Fixed Cost (FC): This is the cost that remains constant regardless of the output level. Here, it's Rs. 400.

  2. Calculate the Total Cost (TC):

    • Total Cost is the sum of Variable Cost and Fixed Cost.
    • So, Total Cost = Variable Cost + Fixed Cost
    • Plugging in the numbers: Total Cost = Rs. 1,000 + Rs. 400 = Rs. 1,400

  3. Determine the Average Total Cost (ATC):

    • Average Total Cost is the Total Cost divided by the number of units produced.
    • So, Average Total Cost = Total Cost ÷ Number of Units
    • Plugging in the numbers: Average Total Cost = Rs. 1,400 ÷ 5 = Rs. 280

Conclusion:

The Average Total Cost at an output level of 5 units is Rs. 280.

Business Economics Mock Test - 4 - Question 2
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In the long run under which competition a firm may earn super normal profits?

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Business Economics Mock Test - 4 - Question 3
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In Law of negative returns (Third stage of Law of variable proportions)

Business Economics Mock Test - 4 - Question 4
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Supply of a good and its price have
Business Economics Mock Test - 4 - Question 5
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If firm ’s average cost curve is falling then marginal curve must be:
Business Economics Mock Test - 4 - Question 6
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An expansion in the supply of a good is caused by a:
Business Economics Mock Test - 4 - Question 7
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Which of the following has the lowest price elasticity of supply?
Business Economics Mock Test - 4 - Question 8
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In Economics, the central economic problem means:
Business Economics Mock Test - 4 - Question 9
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The law of scarcity
Business Economics Mock Test - 4 - Question 10
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For the prices- taking firm :
Business Economics Mock Test - 4 - Question 11
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A monopolist is able to maximize his profits when:
Business Economics Mock Test - 4 - Question 12
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In Imperfect competition:
Business Economics Mock Test - 4 - Question 13
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Product differentiation is the most important feature of:
Business Economics Mock Test - 4 - Question 14
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Relationship between AR, MR and Price elasticity of demand is
Business Economics Mock Test - 4 - Question 15
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In a perfectly competitive firm, MC curve above AVC is the _____ Curve of the firm
Business Economics Mock Test - 4 - Question 16
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Questions like what should be the level of national inc om e, what should be the wage rate fall within the scope of:
Business Economics Mock Test - 4 - Question 17
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Which of the following is not one of the features of capitalist economy?
Business Economics Mock Test - 4 - Question 18
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Which is not the assumption of Indifference curve Analysis?
Business Economics Mock Test - 4 - Question 19
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The horizontal demand curve parallel to x-axis implies that the elasticity of demand is 
Business Economics Mock Test - 4 - Question 20
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When is TP maximum
Business Economics Mock Test - 4 - Question 21
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Variable cost includes the cost of
Business Economics Mock Test - 4 - Question 22
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Which of the following is correct?
Business Economics Mock Test - 4 - Question 23
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When average cost curve is rising then, marginal cost
Business Economics Mock Test - 4 - Question 24
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The vertical difference between TVC and TC is equal to:
Business Economics Mock Test - 4 - Question 25
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The consumer is in equilibrium when:
Business Economics Mock Test - 4 - Question 26
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Capital is a :
Business Economics Mock Test - 4 - Question 27
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Which is not the function of an entrepreneur?
Business Economics Mock Test - 4 - Question 28
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A higher indifference curve shows:
Business Economics Mock Test - 4 - Question 29
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In case of an inferior good the income elasticity of demand is:
Business Economics Mock Test - 4 - Question 30
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When quantity demanded changes by larger percentage than does price, elasticity is termed as:
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Important Questions for Business Economics Mock Test - 4

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Business Economics Mock Test - 4 MCQs with Answers

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