11th Standard EM - Economics - Cost and Revenue Analysis

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Question - 1

Cost refers to _____.

  • A Price 
  • B value
  • C fixed cost
  • D cost of production

Question - 2

Cost functions are derived from _____ function.

  • A production
  • B investment
  • C demand
  • D consumption

Question - 3

Money cost is also known as _____ cost.

  • A explicit
  • B implicit
  • C social
  • D real

Question - 4

Explicit cost plus implicit cost denote _____ cost.

  • A social
  • B economic
  • C money
  • D fixed

Question - 5

Explicit costs are termed as

  • A out of pocket expenses
  • B real cost
  • C social cost
  • D sunk cost

Question - 6

The costs of self-owned resources are termed as ____ cost.

  • A real
  • B explicit
  • C money
  • D impilicit

Question - 7

The cost that remains constant at all levels of output is _____ cost.

  • A fixed
  • B variable
  • C real
  • D social

Question - 8

Identify the formula of estimating average variable cost.

  • A TC/Q
  • B TVC/Q
  • C TFC/Q
  • D TAC/Q

Question - 9

The cost incurred by producing one more unit of _____ output is cost.

  • A variable
  • B fixed
  • C marginal
  • D total

Question - 10

The cost that varies with the level of output is termed as _____ cost.

  • A money
  • B variable cost
  • C total cost
  • D fixed cost