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