Revenue Class 11 MCQ Questions Economics are covered in this Article. Revenue Class 11 MCQ Test contains 25 questions. Answers to MCQs on Revenue Class 11 Economics are available after clicking on the answer. These MCQs have been made for Class 11 students to help check the concept you have learned from detailed classroom sessions and the application of your knowledge.
| Subject | Economics (MCQ) |
| Topic | Revenue Class 11 MCQ Economics |
| Category | Economics Class 11 MCQs |
Revenue Class 11 MCQ Questions Economics
1._______ refers to the amount received by a firm from the sales of a given quantity of a particular good.
(a) Cost
(b) Revenue
(c) Production
(d) Functional cost
Answer
Answer: (b) Revenue
2. Revenue is directly influenced by;
(a) Price of the good
(b) Demand of the good
(c) Sales level
(d) Supply level
Answer
Answer: (c) Sales level
3. ______ refers to the total receipts from the sale of a given commodity.
(a) Total revenue
(b) Marginal revenue
(c) Average revenue
(d) Explicit revenue
Answer
Answer: (a) Total revenue
4. Total revenue= ________.
(a) Quantity & Price
(b) Quantity+ Price
(c) Quantity× Price
(d) All of the above
Answer
Answer: (c) Quantity× Price
5. _____ refers to revenue per unit of output sold.
(a) Total revenue
(b) Marginal revenue
(c) Average revenue
(d) Explicit revenue
Answer
Answer: (c) Average revenue
6. Average revenue=_________.
(a) Quantity× Price.
(b) Total revenue/Quantity
(c) Total revenue/Price
(d) Total revenue× Quantity
Answer
Answer: (b) Total revenue/Quantity
7. Average revenue= _______.
(a) Quantity
(b) Demand
(c) Price
(d) Supply
Answer
Answer: (c) Price
Revenue Class 11 MCQ Questions Economics
8. _______ is the additional revenue generated from the sale of an additional unit of output.
(a) Total revenue
(b) Marginal revenue
(c) Average revenue
(d) Explicit revenue
Answer
Answer: (b) Marginal revenue
9. Marginal revenue=_______.
(a) ∆TR/Price
(b) ∆TR/∆Q
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (b) ∆TR/∆Q
10. Relationship between different revenue concepts is discussed under;
(a) Constant price
(b) Fall in price with rise in output.
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
11. Read the following statement given below and choose the correct alternative.
Statement 1- When price is constant, the revenue from every additional unit is equal to average revenue.
Statement 2- AR=MR, when price is constant.
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (a) Both are correct
12. Read the following statement given below and choose the correct alternative.
Statement 1- When price is constant, MR is a vertical straight line.
Statement 2- When price is constant, TR is a positively sloped line.
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (d) Statement 1 is incorrect and statement 2 is correct
13. Read the following statement given below and choose the correct alternative.
Statement 1- When MR is positive, TR increases.
Statement 2- When MR is zero, TR is maximum.
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (a) Both are correct
14. Read the following statement given below and choose the correct alternative.
Assertion- When MR is negative, TR starts falling.
Reason- MR cannot be zero or negative when price is constant.
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion.
(b) Both Assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but the reason is not.
(d) Reason is true but assertion is not
Answer
Answer: (b) Both Assertion and reason are true. Reason is not the correct explanation of assertion
15. Read the following statement given below and choose the correct alternative.
Assertion- AR falls with increase in sales.
Reason- Revenue from every additional unit is less than AR
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion.
(b) Both Assertion and reason are true. Reason is not the correct explanation of assertion.
(c) Assertion is true but the reason is not.
(d) Reason is true but assertion is not
Answer
Answer: (b) Both Assertion and reason are true. Reason is not the correct explanation of assertion.
Revenue Class 11 MCQ Questions Economics
16. AR curve is same as______.
(a) Demand curve
(b) Supply curve
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (a) Demand curve
17. Slope of the MR is represented by;
(a) TR/Q
(b) TR
(c) Quantity
(d) ∆TR/∆Q
Answer
Answer: (d) ∆TR/∆Q
18. Read the following statement given below and choose the correct alternative
Assertion- TR curve starts from the origin.
Reason- TR is zero at zero level of output.
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion.
(b) Both Assertion and reason are true. Reason is not the correct explanation of assertion.
(c) Assertion is true but the reason is not.
(d) Reason is true but assertion is not
Answer
Answer: (a) Both Assertion and reason are true. Reason is the correct explanation of assertion.
19. Which of the following statements about MR are true.
(a) MR cannot be zero with rise in output
(b) MR can be negative when output falls
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (b) MR can be negative when output falls
20. When MR = AR, AR is
(a) Maximum
(b) Constant
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
21. Find AR
| Units sold | TR |
| 1 | 30 |
| 2 | 36 |
(a) 30,18
(b) 18,30
(c) 30,30
(d) 60,72
Answer
Answer: (a) 30,18
22. Suppose a bookseller sells 20 books at the price of rupees 400 per book. His marginal revenue from the 21st book is 255 at what price did he sell the 21st book?
(a) 393
(b) 490
(c) 400
(d) 380
Answer
Answer: (a) 393
23. Output increases from 70 to 90 units, TR increases from 8000 to 9000 calculate MR.
(a) 25
(b) 50
(c) 20
(d) 60
Answer
Answer: (b) 50
24. The TR of a firm increased by ₹5500 when his sales increased from 25 to 50 units. Calculate MR of the firm.
(a) 250
(b) 110
(c) 1100
(d) 220
Answer
Answer: (d) 220
25. TR of a phone increased by rupees 9000 when his sales increased from 50-100 units. Calculate MR of the firm.
(a) 180
(b) 190
(c) 200
(d) 210
Answer
Answer: (a) 180
Term 2 – NCERT Economics Class 11 MCQ
Part A – MCQ Questions for Class 11 Statistics Economics
- Statistical Tools and Interpretation – Measures of Dispersion, Correlation, Index Number
Part B – MCQ Questions for Class 11 Microeconomics
- Producer Behaviour and Supply
- Production Function Class 11 MCQ
- Cost Class 11 MCQ Economics
- Revenue Class 11 MCQ Economics
- Forms of Market and Price Determination under perfect competition with simple applications