CUET Economics 2025 13 May Shift 1 PYQs

From the following which is incorrect with respect to firm's profit maximization in long run?

1. Price = Long Run Marginal Cost
2. LRMC is first decreasing and then increasing
3. Price = Short Run Marginal Cost
4. Price ≥ Long Run Average Variable Cost

Choose the correct statements from the options given below in terms of the shapes of the short run cost curves.

(A) Average fixed cost curve is a rectangular hyperbola.

(B) Total fixed cost is horizontal straight line.

(C) Average variable cost is upward sloping.

(D) Marginal cost is U shaped.

Choose the correct answer from the options given below:

When more and more workers are applied on the fixed land then the marginal productivity of additional worker will ............... to the total output.