CUET Economics 2025 28 May Shift 1 PYQs

In an economy producing only two goods X and Y, the opportunity cost of producing 5 units of good X is 3 units of good Y.

The above statement implies that _____.

(choose the correct option)

Select the correct statements from the following with regard to cost curves :

(A) Short run marginal cost, average variable cost and short run average cost curves are 'U'-shaped.

(B) SMC curve cuts the AVC curve from below at the minimum point of AVC.

(C) SMC curve cuts the AFC curve from below at the minimum point of AFC.

(D) Average fixed cost curve is downward sloping.

Choose the correct answer from the options given below:

Choose the correct statements considering the relationship between marginal product and average product.

(A) Average product and marginal product curve are 'U'shaped.

(B) Average product and marginal product curve are inverse 'U'shaped.

(C) When the average product increases, the marginal product is greater than the average product.

(D) When the average product decreases, the marginal product is less than the average product.

Choose the correct answer from the options given below: