For a price-taking firm, the market price is equal to marginal revenue and ...... Option 1: Total Cost. Option 2: Marginal Cost. Option 3: Total Revenue. Option 4: Average Revenue.

The answer is 'Average Revenue.'. View full solution:

CUET Economics - For a price-taking firm, the market price is equal to marginal revenue and ...... | PYQs + Solutions

CUET Economics 2025 27 May Shift 2

Micro

Easy

Total Cost.

Marginal Cost.

Total Revenue.

Average Revenue.

✅ Correct Option: 4

Related questions:

29 May Shift 1

Arrange the following steps of Market Equilibrium under perfect competition in the correct order.

(A) Excess of market demand over market supply will cause excess demand situation.

(B) Quantity demanded will fall and quantity supplied will rise.

(C) The market will move towards the point where the quantity that the firm wants to sell is equal to the quantity that the consumer wants to buy.

(D) The market price would tend to increase, due to competition among buyers.

Choose the correct answer from the options given below:

2 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Perfect Competition	(I) A typical characteristic of perfect competition.
(B) Perfectly elastic demand curve	(II) An individual firm is a price taker.
(C) Degree of price control under perfect competition	(III) The firm can sell any amount of its output at the prevailing price.
(D) Freedom of entry and exit	(IV) No control over price.

Choose the correct answer from the options given below:

22 May Shift 2

The government-imposed lower limit on the price that may be charged for a particular good or service. What this lower limit is called ?