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GK
GK Set-1
Economics
Micro Economics
211

Micro Economics MCQ (GK Set-1) with Answers

211) Which of the following is a variable cost in the short run?

rent on the factory

wages paid to factory labour

interest payments on borrowed financial capital

payment on the lease for factory equipment

Answer is:

wages paid to factory labour

Micro Economics MCQ (GK Set-1) with Answers

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Related Micro Economics MCQ (GK Set-1) with Answers

212) Refer to Figure 13-2. The average fixed cost of producing four units is

Rs. 2.50

Rs. 5

Rs. 9

Rs. 26

Answer is:

Rs. 2.50

213) Refer to Figure 13-2. The average total cost of producing three units is

Rs. 6.00

Rs. 3.33

Rs. 9.33

Rs. 12.66

Answer is:

Rs. 9.33

214) Refer to Figure 13-2. The marginal cost of changing production from three units to four units is

Rs. 5.00

Rs. 6.00

Rs. 7.00

Rs. 8.00

Answer is:

Rs. 8.00

215) Refer to Figure 13-2. The efficient scale of production is

1unit.

2unit.

3unit.

4unit.

Answer is:

4unit.

Micro Economics MCQ (GK Set-1) with Answers

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