The shape of the long-run average cost curve and long-run marginal cost curve. Option 1: Only LRAC is U shaped. Option 2: LRAC is U shaped and LRMC upward sloping. Option 3: Rectangular hyperbole. Option 4: U shaped.

The answer is 'U shaped.'. View full solution:

CUET Economics - The shape of the long-run average cost curve and long-run marginal cost curve. | PYQs + Solutions

CUET Economics 2025 30 May Shift 2

Micro

Medium

Only LRAC is U shaped.

LRAC is U shaped and LRMC upward sloping.

Rectangular hyperbole.

U shaped.

✅ Correct Option: 4

Related questions:

22 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Normal profit	(I) Minimum level of profit need by firm to be in business.
(B) Shut down point	(II) Minimum level of LRAC curve
(C) Break-even point	(III) Profit Over and above normal profit
(D) Super-normal profit	(IV) The point on which firm earn only normal profit.

Choose the correct answer from the options given below:

13 May Shift 1

The difference between the revenue and cost is known as________

22 May Shift 1

For the firm to continue to produce, in the long run, price must be greater than the average cost (p > AC) and in the short run, price must be greater than the ......

CUET Economics 2025 30 May Shift 2 PYQs

Keyboard Shortcuts