CUET Economics - What is the main purpose of Cost Reduction Technologies in business? | PYQs + Solutions

CUET Economics 2025 29 May Shift 1

Micro

Easy

To increase demand for a product.

To maintain price level and to increase profit margins.

To maintain high price in the market.

To reduce number of suppliers in the market.

✅ Correct Option: 2

Related questions:

16 May Shift 1

For a hypothetical firm, the total cost of producing 5 units of a commodity is Rs. 310 and that of producing 8 units is Rs. 850. If the firm has to spend Rs. 50 even when there is no output, what will be the marginal cost of producing the 8th unit?

31 May Shift 1

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

Price = Long Run Marginal Cost
LRMC is first decreasing and then increasing
Price = Short Run Marginal Cost
Price ≥ Long Run Average Variable Cost

30 May Shift 2

The point of minimum average cost at which the supply curve cuts the long run average cost curve is called?

CUET Economics 2025 29 May Shift 1 PYQs

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