CUET Economics - Identify the incorrect option from the following related to a perfectly competitive market. | PYQs + Solutions

CUET Economics 2025 29 May Shift 2

Micro

Medium

The firm's average revenue is equal to the market Price.

The price line shows the relationship between the market price and a firm's output level.

Marginal revenue equals the market price.

Firm's total revenue curve is a straight line horizontally.

✅ Correct Option: 4

Related questions:

28 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Upper limit on price of goods & services	(I) Leads to excess supply.
(B) Free entry and exit	(II) Equilibrium price = min AC of the firms.
(C) Marginal revenue product of labor (MRP_L)	(III) Leads to excess demand.
(D) Lower limit on price of goods & services	(IV) MR x MP_L.

Choose the correct answer from the options given below:

29 May Shift 2

The demand curve that a firm faces in a perfectly competitive market is...........

21 May Shift 1

In perfectly competitive market, the demand curve of a firm is?

CUET Economics 2025 29 May Shift 2 PYQs