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

Which of the following are features of the perfect competition market?

(A) Price taking behavior of firms.

(B) Restriction on entry and exit of firms.

(D) Asymmetric Information.

Choose the correct answer from the options given below:

30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Control Price	(I) Set below the equilibrium price
(B) Floor Price	(II) Fixed by the government for the labourers
(C) Minimum Wage Legislation	(III) Set above the equilibrium price
(D) Market Equilibrium	(IV) when demand and supply curve intersect.

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: