CUET Economics 2025 30 May Shift 1Micro > Easy50,00060,00025,00040,000✅ Correct Option: 1Related questions:15 May Shift 1Consider a production function q=f(x1,x2)q = f (x_1, x_2)q=f(x1,x2) where the firm produces q amount of output using x1x_1x1 amount of factor 1 and x2x_2x2 amount of factor 2. Now suppose the firm decides to increase the employment level of both the factors t (t > 1) times. Identify the correct statement from the following.28 May Shift 1Which of the following statements are correctly explaining the relationship between the marginal revenue (MR) and price elasticity of demand? (A). Price elasticity is less than 1 when MR is negative. (B). Price elasticity is more than 1 when MR is negative. (C). Price elasticity is more than 1 when MR is positive. (D). Price elasticity is less than 1 when MR is positive. Choose the correct answer from the options given below: (A) and (D) only (A) and (B) only (B) and (D) only (A) and (C) only 13 May Shift 2In a long run average cost curve which point is said to be the constant return to scale?