CUET Economics - In a perfectly competitive market, a firm produces and sells a certain amount of goods. Among the following what reflect the firm's profit? | PYQs + Solutions

CUET Economics 2025 27 May Shift 2

Micro

Easy

Total Cost - Variable Cost.

Total Revenue - Total Cost.

Variable Cost - Marginal Cost.

Total Revenue - Average Revenue.

✅ Correct Option: 2

Related questions:

16 May Shift 1

Suppose the Income of consumers in a market increase. How will this effect the equilibrium price of the commodity, assuming that it is a normal good?

(A) There is excess demand at the existing price.

(B) Rising price leads to contraction in demand and expansion in supply and a new equilibrium price is attained, which is higher than the initial price.

(D) There is upward pressure on the price and price starts rising.

Choose the correct answer from the options given below:

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What is change in price?

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The demand curve that a firm faces in a perfectly competitive market is...........

CUET Economics 2025 27 May Shift 2 PYQs

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