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