CBSE Class 11 Production and Costs Multiple Choice Questions with Answers. MCQ Questions Class 11 Production and Costs with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Production and Costs with Answers to know their preparation level.
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MCQ Questions Class 11 Production and Costs with Answers - Set - 3
Question 1:Â
In which market MR may become zero or negative ?
(a) Monopoly
(b) Monopolistic Competition
(c) Both (a) and (b)
(d) Perfect Competition
Correct Answer – (C)
Question 2:Â
With increase in output, the difference between total cost and total variable cost:
(a) Decreases
(b) Increases
(c) Remains Constant
(d) None of the above
Correct Answer – (C)
Question 3:Â
Which of the following is correct ?
(a) TVC = TC – TFC
(b) TC = TVC-TFC
(c) TFC = TVC + TC
(d) TC = TVC x TFC
Correct Answer – (A)
Question 4:Â
The shape of average cost curve is :
(a) U-shaped
(b) Reactangular Hyperbola shaped
(c) Line parallel to x-axis
(d) None of these
Correct Answer – (A)
Question 5:Â
Which statement of the following is true ?
(a) AC=TFC – TVC
(b) AC = AFC + TVC
(c) AC=TFC + AVC
(d) AC = AFC + AVC
Correct Answer – (D)
MCQ Questions Class 11 Production and Costs With Answers
Question 6:Â
Which factors are used in short-run production process ?
(a) Fixed Factors
(b) Variable Factors
(c) Both (a) and (b)
(d) None of the above
Correct Answer – (C
Question 7:Â
Average variable costs can be defined as:
(a) TVC x Q
(b) TVC + Q
(c) TVC-Q
(d) TVC ÷ Q
Correct Answer – (D)
Question 8:Â
The average fixed cost at 5 units of output is Rs. 20. Average variable cost at 5 units of output is Rs. 40. Average cost of producing 5 units is:
(a) Rs. 20
(b) Rs. 40
(c) Rs.56
(d) Rs.60
Correct Answer – (D)
Question 9:Â
What is an opportunity cost ?
(a) The alternative foregon
(b) The opportunity lost
(c) Transfer earnings
(d) All of these
Correct Answer – (D)
Question 10:Â
When average cost is decreasing what status marginal cost has as compared to average cost ?
(a) MC > AC
(b) MC = AC
(c) MC ≤ AC
(d) MC ≠AC
