CUET Economics 2025 29 May Shift 2 PYQs

Arrange the following statements related to negative externalities in correct sequence

(A) There is an oil refinery which refines crude petroleum and sells it in the market

(B) Pollution harms well-being and also kills fish or other organisms

(C) Production the refinery may also be polluting the nearby river

(D) Such harmful effects that the refinery is inflicting on others, for which it will not bear any cost, are called externalities

What would be the equilibrium number of firms in a market of identical firms, when market demand function $(Q_d)$, supply function of a single firm $(Q_s1)$ and equilibrium price (P) are given as

$Q_d = 180 - 2P$

$Q_{s1} = 15 + P$

$P = 15$

1. 5
2. 6
3. 8
4. 9

Select the INCORRECT feature of the market with respect to perfect competition.

1. The market consists of a large number of buyers and sellers.
2. Entry into the market as well as exit from the market are free for firms.
3. Buyers are price makers.
4. There is perfect knowledge.