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:

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Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price?

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 ?

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Arrange the given statements in chronological order stating the implications of free entry and exit assumptions in a equilibrium market.

(A) Supply curve shifts rightward, however demand remains unchanged.

(B) At the prevailing market price, each firm is earning a supernormal profit and will attract some new firms.

(D) All firms in the market are earning normal profit, no more firms will have incentive to enter.

Choose the correct answer from the options given below:

CUET Economics 2025 27 May Shift 2 PYQs

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