Chapter 4: Cost and Revenue AnalysisMarch 9, 2024 Maven Leave a Comment Welcome to the Chapter 4: Cost and Revenue Analysis Quiz! This quiz is based on the book back questions. Name Email 1. The costs of self–owned resources are termed as ________ cost. a. real b. explicit c. money d. implicit None 2. The cost that varies with the level of output is termed as _______ cost. a. money b. variable cost c. total cost d. fixed cost None 3. Cost refers to ________ a. price b. value c. fixed cost d. cost of production None 4. The cost incurred by producing one more unit of output is ______cost. a. variable b. fixed c. marginal d. total None 5. Money cost is also known as ____________ cost. a. explicit b. implicit c. social d. real None 6. Identify the formula of estimating average variable cost. a. TC/Q b. TVC/Q c. TFC/Q d. TAC/Q None 7. The cost that remains constant at all levels of output is _______ cost. a. fixed b. variable c. real d. social None 8. Explicit costs are termed as a. out of pocket expenses b. real cost c. social cost d. sunk cost None 9. Explicit cost plus implicit cost denote ___________ cost. a. social b. economic c. money d. fixed None 10. Cost functions are also known as _______________ function. a. production b. investment c. demand d. consumption None 11. A book seller sold 40 books with the price of ₹10 each. The total revenue of the seller is ₹___________. a. 100 b. 200 c. 300 d.400 None 12. Long-run average cost curve is also called as __________ curve. a. demand b. planning c. production d. sales None 13. Wage is an example for ________ cost of the production. a. fixed b. variable c. marginal d. opportunity None 14. Marginal revenue is the addition made to the a. total sales b. total revenue c. total production d. total cost None 15. Revenue received from the sale of products is known as _______ revenue. a. profit b. total revenue c. average d. marginal None 16. Find total cost where TFC=I00 and TVC = 125. a. 125 b. 175 c. 225 d. 325 None 17. The cost per unit of output is denoted by _________ cost. a. average b. marginal c. variable d. total None 18. When price remains constant, AR will be ________ MR. a. equal to b. greater than c. less than d. not related to None 19. Revenue received from the sale of additional unit is termed as ________ a. profit b. average c. marginal d. total None 20. Identify the formula of estimating average cost. a. AVC/Q b. TC/Q c. TVC/Q d. AFC/Q None Time's upRelated Posts:Chapter 11: Capital and Revenue TransactionsChapter 9: Correlation and Regression AnalysisChapter 2. Consumption AnalysisChapter 3: Production Analysis
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