Match List-I with List-II | List-I | List-II | |---|---| | (A) Upper limit on price of goods & services | (I) Leads to excess supply. | | (B) Free entry and exit | (II) Equilibrium price = min AC of the firms. | | (C) Marginal revenue product of labor (MRP_L) | (III) Leads to excess demand. | | (D) Lower limit on price of goods & services | (IV) MR x MP_L. | Choose the correct answer from the options given below: 1. (A) - (I), (B) - (II), (C) - (III), (D) - (IV) 2. (A) - (III), (B) - (II), (C) - (IV), (D) - (I) 3. (A) - (IV), (B) - (III), (C) - (II), (D) - (I) 4. (A) - (IV), (B) - (III), (C) - (I), (D) - (II)

Question

Option 1: (A) - (I), (B) - (II), (C) - (III), (D) - (IV)

Option 2: (A) - (III), (B) - (II), (C) - (IV), (D) - (I)

Option 3: (A) - (IV), (B) - (III), (C) - (II), (D) - (I)

Option 4: (A) - (IV), (B) - (III), (C) - (I), (D) - (II)

AfterBoards · Accepted Answer

The answer is '(A) - (III), (B) - (II), (C) - (IV), (D) - (I)'. View full solution:

List-I	List-II
(A) Perfect Competition	(I) No change in equilibrium price
(B) Increase in Demand= Decrease in Supply	(II) Price taking Behavior
(C) Increase in Demand > Decrease in Supply	(III) Decrease in equilibrium price
(D) Increase in Supply > Decrease in Demand	(IV) Increase in equilibrium price

	LIST-I		LIST-II
A.	Perfectly competitive Market	I.	Normal profit in the long run
B.	Point below where SMC curve cuts the AVC curve	II.	Break Even Point
C.	Supply curve cuts the SMC curve at minimum	III.	Shut Down Point
D.	MR is precisely the market price	IV.	Perfect Competition

CUET Economics 2025 28 May Shift 1 PYQs

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