CUET Economics 2025 13 May Shift 1 PYQs

Identify the correct sequence due to which firms under perfect competition earn normal profits in the long run.

(A) The firms are earning less than normal profit at the prevailing price.

(B) The profits of each firm will increase to the level of normal profit.

(C) No more firm will want to leave, since they will be earning normal profit here.

(D) Some firms will exit, which will lead to an increase in price.

Choose the correct answer from the options given below:

With the shifting demand curve leftward, arrange the following statement in sequential order.

(A) At any given price, demand is less.

(B) Excess supply will be there.

(C) Some producers will decrease the prices of commodity.

(D) At new equilibrium, quantity and price will be less.

Choose the correct answer from the options given below:

In the perfectly competitive market, if 10 packets of bread are sold at the price of Rs. 25 per packet, what will be the total revenue of a bread manufacturer?

1. Rs. 25
2. Rs. 250
3. Rs. 0.4
4. Rs. 2.5