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CUET Economics 2025 PYQs28 May Shift 1. Free, no login required.

Micro

past year questions, CUET Economics 2025 28 May Shift 1

Production & Costs

past year questions, Micro, CUET Economics 2025 28 May Shift 1

Easy

How is the value of the average product calculated in the short-run?

  1. By dividing the total product by the number of labor.
  2. By dividing the change in total product by the change in labor.
  3. By dividing the change in total product by the number of labor.
  4. By dividing the total product by the change in labor.

Solution

✅ Correct Option: 1

Option 1 -> This correctly defines Average Product (AP = Total Product / Labor).

Option 2 -> This describes Marginal Product, not Average Product (MP = ΔTP/ΔL).

Option 3 -> This is an incorrect formula that doesn't represent any standard productivity measure.

Option 4 -> This is an incorrect formula that doesn't represent any standard productivity measure.

Hence, Option 1: By dividing the total product by the number of labor -> Average Product (AP) measures the output per unit of labor input. It is calculated as AP = Total Product (TP) / Labor (L). For example, if 10 workers produce 100 units, the average product is 100/10 = 10 units per worker. This helps firms understand the typical productivity level of their workforce in the short-run when some factors of production are fixed -> correct

Related questions:

2025: 22 May Shift 1

When labor changes from 3 to 4, the total product changes from 24 to 40, calculate the marginal product.

2025: 29 May Shift 2

Match List-I with List-II

List-IList-II
(A) Production function(I) f(tx1,tx2)>tf(x1,x2)f(tx_1, tx_2) > t f(x_1, x_2)
(B) Constant returns to scale(II) f(tx1,tx2)<tf(x1,x2)f(tx_1, tx_2) < t f(x_1, x_2)
(C) Increasing returns to scale(III) f(x1,x2)f(x_1, x_2)
(D) Decreasing returns to scale(IV) f(tx1,tx2)=tf(x1,x2)f(tx_1, tx_2) = t f(x_1, x_2)

Choose the correct answer from the options given below:

2025: 14 May Shift 1

When the average cost is rising, then.

2025: 31 May Shift 1

Suppose in a production process, all inputs get doubled. As a result, if the output gets doubled, the production function exhibits?

  1. Decreasing Return to scale.
  2. Incresing Returns to scale.
  3. Constant Return to scale.
  4. Decresing Productivity.

2025: 13 May Shift 2

In which condition, the average cost of a firm declines when output increases?

2025: 22 May Shift 2

Match List-I with List-II

List-IList-II
(A) Normal profit(I) Minimum level of profit need by firm to be in business.
(B) Shut down point(II) Minimum level of LRAC curve
(C) Break-even point(III) Profit Over and above normal profit
(D) Super-normal profit(IV) The point on which firm earn only normal profit.

Choose the correct answer from the options given below:

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