Which of the following curves never touch any axis but is downward.

Which of the following is true of the relationship between the marginal cost function and the average cost function?

Other things remaining the same, an increase in price will make ________ cost higher than ________ cost.

The vertical difference between TVC and TC curves is equal to:

Which of the following is a vari-able cost in the short run₹

A firm producing 15 units of output has average cost of ₹ 250 and ₹ 125 as per unit cost for fixed factors of production. Then average variable cost will be ________.

Average cost of producing 50 units of any commodity is ₹ 250 and fixed cost is ₹ 1,000. What will be the average fixed cost of producing 100 units of the commodity?

When AC curve is rising, the MC curve must be ________ to it.

Which of the following statements is correct?

Which of the following is part of incremental costs?

Electricity charges include both a fixed charge and a charge based on consumption. It should be classified as ________.

With which of the following is the concept of marginal cost closely related?

A firm producing 7 units of output has an average total cost of ₹ 150 and has to pay ₹ 350 to its fixed factors of production. How much of the average total cost is made up of variable cost?

________ may vary according to the changes accruing to the product process or machine.

The slope of Average Fixed cost curve is?

Which of the following curves never tough any axis but is downward ________.

Suppose output increases in the short run. Total cost will

Cost function is a function which is obtained from ________.

________ refer to those costs which are already incurred once and for all and cannot be recovered.

What happens to marginal cost when average cost increases?

Opportunity Cost is the cost of the ________ opportunity and involves a comparison between the policy that was ________ and the policy that was ________.

The positively sloped (rising) part of the long run average cost curve indicates working of the ________.

Which of the following cost remains fixed over certain range of output but suddenly jump to a new higher level when output goes beyond a given limit?

The negatively-sloped (i.e. falling) part of the long-run average total cost curve is due to which of the following?

When AC Curve is at minimum then MC Curve is ________?

________ Costs normally figure in business decisions as they Form part of total cost and are inter-nalized by the firm.

If a Firm shuts down for a short period, it will not incur any ________ cost.

Cost Functions are derived from ________ cost data of the firms.

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

If fixed cost is plotted on a graph taking output on X-axis and Cost on Y axis, the Fixed cost will be represented by ________.

A firm producing 7 units of output has an average total cost of ₹ 150 and has to pay ₹ 350 to its fixed factors of production whether it produces or not. How much of the average total cost is made up of variable costs?

Planning curve is related to which of the following?

The Semi-Variable Cost: ________

The costs which remain fixed over certain range of output but sud-denly jump to a new higher level when production goes beyond a given limit are called:

External Economies arise due to:

The total cost incurred for 10 units is ₹ 400 and 20 units is ₹ 800. Find the marginal cost.

Usually in the case of continuous decrease in price of an asset, which one of the following shall be the highest?

Fixed cost curve normally:

Which of the following is not a determinant of the firm’s cost function?

Which one of the following is an example of Sunk Cost?

A firm has a variable cost of ₹ 1000 at 5 units of output. If fixed costs are ₹ 400, what will be the average total cost at 5 units of output?

A firm producing 9 units of output has an average total cost of f 200 and has to pay ₹ 630 to its fixed cost of production. How much of the average total cost is made up of variable cost?

________ Costs do not change with changes in Output.

Which cost increases continuously with the increase in production?

In a cost function, the dependent variable is unit cost or total cost and the independent variable(s)are ________.

Which statement among below is correct in reference in Average Fixed Cost.

A firm’s average fixed cost is ₹ 40 at 12 units. What will be the average fixed cost at 8 units:

Which of the following in incurred first?

Average Fixed Cost = ₹ 20
Quantity Produced =10 units
What will be the Average Fixed Cost of 20th unit?

In the long run all factors are ________.

Which of the following is known as Envelope curve?

The Cost function expresses the relationship between ________ and ________.

A firms AFC is ₹ 200 at 10 units of output what will be it at 20 units of output?

Indirect Costs are not easily and definitely identifiable in relation to a plants, products, process or department. These are ________ changed to different jobs or products in stan-dard accounting

Private Costs are costs actually incurred or provided for by firms. These may be ________.

________ Cost refers to the cost incurred in the past on the acquisition of a productive asset

AT 10 units Total Cost – ₹ 200
20 units Total Cost – 600
Marginal Cost = ?

________ are those costs which change with changes in output.

Which of the following statement is incorrect?

Cost Function is the mathemati-cal relation between ________ of a Product and the various determinants of ________.

Average fixed cost curve is always:

Which of the following statements is correct concerning the relationships among the firm’s cost functions?

U-shaped average cost curve is based on:

Which of the following statements is correct?

Identify the indirect Cost

Fixed costs may also be called as:

Total Fixed cost curve

When shape of average cost curve is upward, marginal cost:

Which one of the following is correct?

A Company is willing to change its existing Machinery (5 years old) by a new machinery at a cost of ₹ 10,00,000. The cost of ₹ 10,00,000 may be regarded as:

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

Fixed costs are ________ a function of output.

If LAC curve falls as output expands, this is due to :

What is the total cost of produc-tion of 20 units, if fixed cost ₹ 5,000 and variable cost is ₹ 2/-?

When the output of a firm increase in the short run, its average fixed cost.

Total cost in the short run is clas-sified into fixed costs and variable costs. Which one of the following is a variable cost?

MC curve of a firm in a perfectly competitive industry depicts?

Opportunity Cost is ________

Marginal cost changes due to change in ________ cost.

Which of the following statements is true of the relationship among the average cost functions?

Theoretically, incremental costs are related to the concept of ________.

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

If a firm’s output is zero, then:

Direct Cost is also known as :

Semi-Variable Costs are ________ Variable, ________ fixed in relation to the changes in the size of output.

Opportunity cost is the ________ value that is foregone in choosing one activity over the alternative.

The change in total cost due to one unit change in the output is called ________ cost.

Average fixed cost can be obtained through:

The concept of opportunity cost has to be considered whenever :

________ costs are the costs that are readily identified and are traceable to a particular product, operations or plant.

Marginal cost is defined as:

Which of the following statements concerning the long-run average cost curve is false?

The Cost of resources for which the firm is not required to pay price is called as ________ cost.

Marginal cost changes due to changes in ________.

A company produces 10 units of output and incurs ₹ 30 per unit as variable cost and ₹ 5 per unit of fixed cost. What will be its total cost of producing 10 units₹

With which of the following is the concept of marginal cost closely related?

The total Cost Curve is obtained by adding ________ the ________ curve and the Curve.

Which of the following is a kind of Cost function?

A firm’s long-run average total cost curve is.

A firm produces 10 units of a commodity at an average total cost of ₹ 200 and with a fixed cost of ₹ 500. Find out the component of average variable cost in the total cost: