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CUET Economics 2025 PYQs14 May Shift 1. Free, no login required.

Micro

past year questions, CUET Economics 2025 14 May Shift 1

Production & Costs

past year questions, Micro, CUET Economics 2025 14 May Shift 1

Medium

Match List-I with List-II

List–IList–II
(A) Total variable cost(I) TR – (TVC + TFC)
(B) Total Revenue(II) TVCₙ – TVCₙ₋₁
(C) Profit(III) Average variable cost × Quantity
(D) Marginal cost(IV) Price × Quantity

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 4

Option 1 -> Incorrectly matches Total variable cost with TR - (TVC + TFC), which is the profit formula.

Option 2 -> Incorrectly matches Total Revenue with Average variable cost × Quantity, which is the TVC formula.

Option 3 -> Incorrectly matches Profit with Price × Quantity, which is the Total Revenue formula.

Option 4 -> Correctly matches all formulas with their respective concepts.

Hence, Option 4: (A) - (III), (B) - (IV), (C) - (I), (D) - (II) -> (A) Total Variable Cost = Average Variable Cost × Quantity - TVC is calculated by multiplying per unit variable cost with quantity produced. (B) Total Revenue = Price × Quantity - TR is the total income from selling goods. (C) Profit = TR - (TVC + TFC) - Profit is revenue minus all costs (variable and fixed). (D) Marginal Cost = TVCₙ - TVCₙ₋₁ - MC is the additional cost of producing one more unit, calculated as the change in total variable cost between consecutive output levels. -> correct

Related questions:

2026: 19 May Shift 2

In the short run, when a fixed input is combined with increasing variable inputs, the following changes in Average Product (AP) and Marginal Product (MP) are witnessed. Select the correct order of such change starting with the first unit employment of variable input.

A. AP and MP both decrease and AP > MP

B. AP and MP both increase and AP < MP

C. AP intersects MP and after that AP > MP

D. AP = MP, for the first level of output

Choose the correct sequence from the options given below:

2025: 22 May Shift 2

When more and more workers are applied on the fixed land then the marginal productivity of additional worker will ............... to the total output.

2026: 12 May Shift 1

Choose the correct statement with respect to long run production function-

(A) There is no fixed factor of production.

(B) All inputs can be varied.

(C) Average and Marginal cost curves are U shaped.

(D) Decreasing Returns to Scale is not applicable.

Choose the correct answer from the options given below:

2025: 28 May Shift 1

A firm increased the capital by a unit, which led to a rise in total product from 10 units to 24 units. Further increase in capital in the same quantity leads to an increase in total product to 40 units. What is the difference in change in marginal product?

  1. 14
  2. 2
  3. 30
  4. 16

2025: 28 May Shift 2

The firm must employ more of the variable inputs, in order to increase the production of output. Therefore, as output increases

2025: 22 May Shift 1

The change in output per unit of change in the input when all other inputs are held constant, is termed as __________.

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