Page 1 1. Which Cost Increases Continuously With the Increase in Production? a) Average cost b) Marginal cost c) Fixed cost d) Variable cost Answer. (d) Page 2 1. Which Cost Increases Continuously With the Increase in Production? a) Average cost b) Marginal cost c) Fixed cost d) Variable cost Answer. (d) 2. Which of the Following Cost Curves is Never U-shaped? a)Average cost curve b) Marginal cost curve c) Average variable cost curve d) Average fixed cost curve Ans. (d) Page 3 1. Which Cost Increases Continuously With the Increase in Production? a) Average cost b) Marginal cost c) Fixed cost d) Variable cost Answer. (d) 2. Which of the Following Cost Curves is Never U-shaped? a)Average cost curve b) Marginal cost curve c) Average variable cost curve d) Average fixed cost curve Ans. (d) a) Cost of raw material b) Cost of equipment c)Interest payment on past borrowings d)Payment of rent on building Ans. (a) 3. Total cost in the short run is classified into fixed costs and variable costs. Which one of the following is a variable cost? Page 4 1. Which Cost Increases Continuously With the Increase in Production? a) Average cost b) Marginal cost c) Fixed cost d) Variable cost Answer. (d) 2. Which of the Following Cost Curves is Never U-shaped? a)Average cost curve b) Marginal cost curve c) Average variable cost curve d) Average fixed cost curve Ans. (d) a) Cost of raw material b) Cost of equipment c)Interest payment on past borrowings d)Payment of rent on building Ans. (a) 3. Total cost in the short run is classified into fixed costs and variable costs. Which one of the following is a variable cost? 4. In the Short Run, When the Output of a Firm Increases, Its Average Fixed Cost: a) Increases b) Decreases c) Remains constant d) First declines and then rises Ans. (b) Page 5 1. Which Cost Increases Continuously With the Increase in Production? a) Average cost b) Marginal cost c) Fixed cost d) Variable cost Answer. (d) 2. Which of the Following Cost Curves is Never U-shaped? a)Average cost curve b) Marginal cost curve c) Average variable cost curve d) Average fixed cost curve Ans. (d) a) Cost of raw material b) Cost of equipment c)Interest payment on past borrowings d)Payment of rent on building Ans. (a) 3. Total cost in the short run is classified into fixed costs and variable costs. Which one of the following is a variable cost? 4. In the Short Run, When the Output of a Firm Increases, Its Average Fixed Cost: a) Increases b) Decreases c) Remains constant d) First declines and then rises Ans. (b) 5. Which One of the Following is Also Known as Planning Curve? a) Long run average cost curve b) short run average cost curve c) Average variable cost curve d) Average total cost curve Ans. (a)Read More
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