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:

3 June Shift 1

Which of the following is true about the relationship between Total Revenue (TR) and Marginal Revenue (MR) in a perfectly competitive market?

(A) Total Revenue will increase at a constant rate.

(B) Marginal Revenue is more than Average Revenue.

(D) Marginal Revenue is equal to Average Revenue.

Choose the correct answer from the options given b-elow:

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The total revenue of a firm is increasing at a constant rate. Which of the following is true about this firm?

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CUET Economics 2025 29 May Shift 2 PYQs