MCQ Questions Class 11 Economics Part 2: Introductory Microeconomics Chapter 3 Production and Costs with Answers

Free PDF Download of CBSE Class 11 Economics Part- 2 : Introductory Microeconomics Chapter 3 Production and Costs Multiple Choice Questions with Answers.Based on Latest Exam Pattern. Students can solve MCQ NCERT Class 11 Economics Part- 2 : Introductory Microeconomics Chapter 3 Production and Costs Multiple Choice Questions with Answers to know their preparation level.

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Class 11 Economics Microeconomics: Introductory Microeconomics (Part-B) Chapter 3 Production and Costs MCQ Questions with Answers

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1. Opportunity cost is:

 
 
 
 

2. The cycle which increases first and after being constant starts to reduce is called :

 
 
 
 

3. At which time all the factors of production may be changed ?

 
 
 
 

4. When shape of average cost curve is upwards, marginal cost:

 
 
 
 

5. U-shaped average cost curve is based on:

 
 
 
 

6. AFC curve is:

 
 
 
 

7. As output increases, average fixed cost:

 
 
 
 

8. Economic cost excludes:

 
 
 
 

9. Law of variable proportion explains three stages of production. In the first stage of production:

 
 
 
 

10. Which factors among following we find in short-run production process ?

 
 
 
 

11. Average fixed cost can be obtained through:

 
 
 
 

12. Which of the following is a saurce of production ?

 
 
 
 

13. Production function is expressed as:

 
 
 
 

14. A firm’s average fixed cost is Rs 20 at 6 units of output what will it be at 4 units of output?

 
 
 
 

15. Which of the following explains the short-run production function ?

 
 
 
 

16. Law of variable proportion is related to :

 
 
 
 

17. If total cost at 10 units is Rs 600 and Rs 640 for 11th unit. The marginal cost of 11th unit is:

 
 
 
 

18. In which stage of production a rational producer likes to operate in shot-run production ?

 
 
 
 

19. Which of the following cost curves is never ‘U’ shaped?

 
 
 
 

20. Long-run production function is related to:

 
 
 
 

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