Cost refers to _____.

(a)

Price 

(b)

value

(c)

fixed cost

(d)

cost of production

Cost functions are also known as _____ function.

(a)

production

(b)

investment

(c)

demand

(d)

consumption

Explicit costs are termed as

(a)

out of pocket expenses

(b)

real cost

(c)

social cost

(d)

sunk cost

The costs of self-owned resources are termed as ____ cost.

(a)

real

(b)

explicit

(c)

money

(d)

implicit

Find total cost where TFC = 200 and TVC = 150

(a)

300

(b)

350

(c)

200

(d)

150

Find total fixed cost where TC = 500 and TVC= 100.

(a)

100

(b)

200

(c)

300

(d)

400

Planning curve is also called as ____.

(a)

Envelop curve

(b)

Long run average cost curve

(c)

Group of short run average cost curve

(d)

All the above

When AR remains constant MR is also ____.

(a)

constant

(b)

greater

(c)

lesser

(d)

none of these

A shop keeper sold 20 bags with the price of Rs. 100 each. The total revenue of the seller is Rs.

(a)

200

(b)

20

(c)

2000

(d)

1500

Find Total Variable Cost where TC = 200 and TFC = 50.

(a)

50

(b)

150

(c)

200

(d)

250