Assertion Reason MCQs of Cost Microeconomics Class 11
Looking for important Assertion Reason MCQs of Cost chapter with answers of Microeconomics class 11 CBSE, ISC and other state Board.
Assertion Reason Multiple Choice Questions of Cost chapter with answers of Microeconomics class 11
Lets Practice
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Normal Profit is a part of Implicit Cost.
Reason (R): Normal Profit is the imputed value of entrepreneurial services provided by the owner.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
Ans – a)
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): TFC curve is a vertical straight line parallel to the Y-axis
Reason (R): TFC remains the same at all levels of output, even if the output is zero
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
Ans – d)
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Total Variable Cost (TVC) can be changed in the short run.
Reason (R): TVC increases initially at a decreasing rate, then at a constant rate, and, finally, at an increasing rate.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
Ans – b)
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): TC and TVC curves are parallel to each other.
Reason (R): The vertical distance between TC and TVC curves is TFC, which remains constant at all levels of output.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
Ans – a)
Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): AFC curve can never touch the Y-axis
Reason (R): TFC can never be zero
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct
explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
Ans – b)
