CUET Economics 2025 27 May Shift 2 PYQs

Suppose the unit tax imposed by the government is Rs 2. If the firm produces and sells 10 units of goods, the total tax that the firm must pay to the government is Rs..............

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

Choose the correct option(s) with respect to free entry and exit assumption of a perfectly competitive market.

(A) At equilibrium, no firm earns supernormal profit.

(B) As new firms enter the market, the supply curve shifts leftward.

(C) Equilibrium price will be equal to the minimum average cost.

(D) At equilibrium, no firm incurs losses by remaining in production.

Choose the correct answer from the options given below: