CUET Economics 2025 29 May Shift 1 PYQs

The point on the supply curve at which a firm earns only normal profit is called ...........

When a firm increases its output and the average cost rises, this phase in the production process is shown as?

Which of the following is not true?

1. The production function of a firm is a monetary relationship between inputs used and output produced by the firm.
2. The production function gives the maximum quantity of output that can be produced.
3. A production function deals only with the efficient use of inputs.
4. A production function is defined for a given technology.