CUET Economics - Identify the correct statements from the following: (A) As long as MP>AP, the average Product (AP) can rise even when the Marginal Product (MP) is falling. (B) The law of variable proportions operates only if the factor ratio happens to change. (C) Total Product (TP) must increase no matter if there are increasing or decreasing returns to a factor. (D) Marginal Product (MP) = Average Product (AP), when AP is maximum. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Economics 2025 3 June Shift 1

Micro

Medium

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

✅ Correct Option: 3

Related questions:

22 May Shift 2

The total cost of a firm is Rs 80 for 3 units of output, Rs 95 for 4 units of output, and Rs. 115 for 5 units of output. What is the marginal cost for the 5th unit of output?

21 May Shift 1

Which of the following is true about the law of variable proportions?

(A) Total product eventually declines.

(B) Average product is an inverse U shaped curve.

(D) Marginal product can never be negative.

Choose the correct answer from the options given below:

26 May Shift 2

Which of the following are correct about the short run cost concepts?

(A) Both the average cost and average variable cost curves are U-shaped.

(B) Average cost and average variable cost curves are parallel to each other.

(D) Average cost and average variable cost can never be equal to each other.

Choose the correct answer from the options given below:

CUET Economics 2025 3 June Shift 1 PYQs

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