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Free Online MCQ Questions of Class – 11 Microeconomics Chapter 8 – Concepts of Cost

Free Online MCQ Questions of CBSE Class 11 Microeconomics Chapter 8 – Concepts of Cost with Answers. Free Online MCQ Questions for Class 11 Microeconomics with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Microeconomics Concepts of Cost Current Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Here you will find a series of Free MCQ on Concepts of Cost for Class 11th. This article consists of MCQ related to the topic “Concepts of Cost”.

Free Online MCQ Questions of Class -11 Microeconomics

Chapter 8 – Concepts of Cost with Answers

  1. All money costs can be regarded as :
    1. Social Costs
    2. Opportunity Costs
    3. Explicit Costs
    4. Implicit Costs
  2. Fixed Cost is known as –
    1. Special Cost
    2. Direct Cost
    3. Prime Cost
    4. Overhead Cost
  3. In a short period, when production increases the AFC-
    1. Increases
    2. Decreases
    3. Remains Constant
    4. All of the above
  4. Average fixed costs-
    1. Remains the same whatever the level of output is.
    2. Increases as output increases
    3. Decreases as output increases
    4. Any of the above
  5. Average costs curve contains in it-
    1. Normal Profit
    2. No normal profit
    3. Loss
    4. All of the above
  6. All of the following curves are ‘U’ shaped except-
    1. The AFC Curve
    2. The AVC Curve
    3. The MC Curve
    4. The ATC Curve
  7. The costs that a firm incurs in purchasing any factor of production is referred as :
    1. Explicit Cost
    2. Implicit Cost
    3. Variable Cost
    4. All of the above
  8. The MC curve intersects the AVC curve when AVC is :
    1. Minimum
    2. Maximum
    3. Zero
    4. Rising
  9. When the output of a firm is increasing its total fixed cost-
    1. Increases
    2. Decreases
    3. Remains Constant
    4. All of the above
  10. Variable costs include costs of-
    1. Hiring the building for the factory
    2. Purchasing heavy machine
    3. Paying the laborers
    4. All of the above

MCQ Questions of CBSE Class 11 Microeconomics Chapter 8 – Concepts of Cost

Answer Key

1 (c)2 (d)3 (b)4 (c)5 (a)
6 (a)7 (a)8 (a)9 (c)10 (c)

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