CUET Economics 2025 29 May Shift 1 PYQs

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

The shape of the average fixed cost curve is ........................

The firm must employ more of the variable inputs, in order to increase the production of output. Therefore, as output increases