CUET Economics 2025 28 May Shift 2 PYQs

Keeping the capital as a fixed input, as 3, when the quantity of labor changes from 3 to 4, the total product with labor also rises from 40 to 50 units. What is the average product after the change?

1. 50
2. 13.33
3. 12.5
4. 40

From the following which production function exhibits increasing returns to scale?

Which of the following statements are true with regard to the production?

(A) In the short run, at least one of the factors of production remains fixed.

(B) In the long run, all factors of production can be varied.

(C) A period can be defined as long run or short run simply by looking at whether all the inputs can be varied or not.

(D) In the long run, factors of production can be classified into fixed and variable