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. Money cost is also known as ____________ cost. a. explicit b. implicit c. social d. real None 2. The costs of self–owned resources are termed as ________ cost. a. real b. explicit c. money d. implicit None 3. The cost incurred by producing one more unit of output is ______cost. a. variable b. fixed c. marginal d. total None 4. The cost that remains constant at all levels of output is _______ cost. a. fixed b. variable c. real d. social None 5. 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 6. Identify the formula of estimating average variable cost. a. TC/Q b. TVC/Q c. TFC/Q d. TAC/Q None 7. Cost functions are also known as _______________ function. a. production b. investment c. demand d. consumption None 8. Cost refers to ________ a. price b. value c. fixed cost d. cost of production None 9. Explicit cost plus implicit cost denote ___________ cost. a. social b. economic c. money d. fixed None 10. Explicit costs are termed as a. out of pocket expenses b. real cost c. social cost d. sunk cost None 11. Marginal revenue is the addition made to the a. total sales b. total revenue c. total production d. total cost None 12. Revenue received from the sale of products is known as _______ revenue. a. profit b. total revenue c. average d. marginal None 13. The cost per unit of output is denoted by _________ cost. a. average b. marginal c. variable d. total None 14. Revenue received from the sale of additional unit is termed as ________ a. profit b. average c. marginal d. total None 15. Find total cost where TFC=I00 and TVC = 125. a. 125 b. 175 c. 225 d. 325 None 16. When price remains constant, AR will be ________ MR. a. equal to b. greater than c. less than d. not related to None 17. Long-run average cost curve is also called as __________ curve. a. demand b. planning c. production d. sales None 18. Wage is an example for ________ cost of the production. a. fixed b. variable c. marginal d. opportunity None 19. 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 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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