CUET Economics 2025 13 May Shift 1 PYQs

Given the production function $f(x_1, tx_2) > tf (x_1, x_2)$, what it exhibit:

Under perfect competition, for the producer to be in equilibrium:

Choose the correct equations in the context of costs.

(A) TFC = AFC × quantity

(B) LRMC = (TC at $q_n$ units) – (TC at $q_{n-1}$ units)

(C) TC = TVC × TFC

(D) LRAC = TC/q

Choose the correct answer from the options given below: