CUET Economics 2025 3 June Shift 2 PYQs

In which of the following, the demand for a good will be highly price elastic?

How government intervention through price control policy will have an impact on the market?

(A) The government imposed lower limit on the price that may be charged

(B) For certain goods and services, a fall in price below a particular level is not desirable

(C) Thereby leading to an excess supply in the market

(D) Government needs to buy the surplus at the predetermined price

Choose the correct answer from the options given below:

Which one of the following formula is correct for the Marginal Revenue Product of the labor (MRP$_L$)?