CUET Economics 2025 28 May Shift 1 PYQs

Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.

1. Consumption
2. Production
3. Exchange
4. Demand and supply

From the following which is incorrect with respect to firm's profit maximization in long run?

1. Price = Long Run Marginal Cost
2. LRMC is first decreasing and then increasing
3. Price = Short Run Marginal Cost
4. Price ≥ Long Run Average Variable Cost

Match List-I with List-II

List-I	List-II
(A) Land	(I) Interest
(B) Labor	(II) Profit
(C) Capital	(III) Wages
(D) Entrepreneurship	(IV) Rent

Choose the correct answer from the options given below: