Q.1)-Average Revenue means
- The revenue per unit of commodity sold
- the revenue from all commodites sold
- the revenue from all commodites unit sold
- the profit realised by sale of all commodities
Q.2)-Gross profit means
- Total investment over total saving
- Changes inmethods of production
- changes in the form of business organisation
- Total receipts over total expenditure
Q.3)-The situation in which total Revenue equals total cost, is known as
- Monopolistic competition
- Equilibrium level of output
- Break even point
- Perfect competition
Q.4)-Who propounded the Innovation theory of profit
- J.A. Schumpeter
- P.A. Samuelson
- Alfred Marshall
- David Ricardo
Q.5)-The market price is related to
- Very short period
- Short period
- Long period
- Very long period
Q.6)-Who propounded Dynamic Theory of Profit
- Clark
- Schumpeter
- Knight
- Hawly
Q.7)-If the average revenue is a horizontal straight line, marginal revenue will be
- u shaped
- Kinked
- Identical with average revenue
- L shaped
Q.8)-Economics profit or normal profit is the name as
- Optimum profit
- Accounting profit
- Maximum profit
- Net profit
Q.9)-The marginalrevenue of monopolist is
- More than price
- Equal to price
- Less then price
- Less than marginal cost