Class 11 Economics MCQ Chapter 8 Concepts of Revenue Question Answer English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Economics MCQ Chapter 8 Concepts of Revenue and select need one. AHSEC Class 11 Economics Objective Type Solutions in English As Per AHSEC New Book Syllabus Download PDF. AHSEC Economics MCQ Class 11.
Class 11 Economics MCQ Chapter 8 Concepts of Revenue
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 11 Economics Multiple Choice Solutions are part of All Subject Solutions. Here we have given AHSEC Class 11 Economics MCQ in English for All Chapters, You can practice these here.
Concepts of Revenue
Chapter: 8
| PART – A : MICROECONOMICS |
Choose the Correct Option:
1. What is the formula for revenue?
(a) R = PQ.
(b) R = Q + P.
(c) R = TR – TC.
(d) R = Q – P.
Ans: (a) R = PQ.
2. Revenue is the sum of:
(a) Profit and Loss.
(b) Cost and Profit.
(c) Price and Quantity.
(d) Revenue and Output.
Ans: (c) Price and Quantity.
3. Total revenue is:
(a) Revenue from one unit.
(b) Total output produced.
(c) Total amount received from sale of output.
(d) Equal to price.
Ans: (c) Total amount received from sale of output.
4. What is Average Revenue (AR)?
(a) TR/Q.
(b) TR + Q.
(c) Q + TR.
(d) TR – Q.
Ans: (a) TR/Q.
5. TR = Rs 2000 and Q = 10, AR is:
(a) Rs. 20.
(b) Rs. 200.
(c) Rs. 1000.
(d) Rs. 2.
Ans: (b) Rs. 200.
6. AR is equal to:
(a) Total Output.
(b) Price.
(c) TR/Q.
(d) Cost.
Ans: (b) Price.
7. AR curve is the same as:
(a) Supply Curve.
(b) Cost Curve.
(c) Demand Curve.
(d) Profit Curve.
Ans: (c) Demand Curve.
8. Marginal Revenue (MR) refers to:
(a) Revenue from all output.
(b) Additional output produced.
(c) Additional revenue from 1 more unit sold.
(d) Change in price.
Ans: (c) Additional revenue from 1 more unit sold.
9. If TR increases from Rs. 2000 to Rs. 2100 for 11th unit, MR is:
(a) Rs. 1100.
(b) Rs. 200.
(c) Rs. 100.
(d) Rs. 10.
Ans: (c) Rs. 100.
10. MR is the rate of change of:
(a) TR.
(b) AR.
(c) Q.
(d) TC.
Ans: (a) TR.
11. When price is constant, AR = MR =
(a) 0.
(b) TR.
(c) Price.
(d) Output.
Ans: (c) Price.
12. In perfect competition, AR and MR curves are:
(a) Upward sloping.
(b) U-shaped.
(c) Vertical lines.
(d) Horizontal lines.
Ans: (d) Horizontal lines.
13. In a fixed price situation, TR increases:
(a) Constantly.
(b) Rapidly.
(c) Proportionally with output.
(d) Not at all.
Ans: (c) Proportionally with output.
14. If AR and MR are both Rs. 10, price is:
(a) Rs. 5.
(b) Rs. 15.
(c) Rs. 10.
(d) Rs. 1.
Ans: (c) Rs. 10.
15. Graphically, TR curve in fixed price is:
(a) Horizontal line.
(b) Upward sloping straight line.
(c) U-shaped.
(d) Downward curve.
Ans: (b) Upward sloping straight line.
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