CUET Economics 2025 14 May Shift 1 PYQs

Arrange the given statements to show the impact on a firm's supply curve due to its determinants.

(A) Organisational innovation allows the firm to use fewer units of inputs.

(B) Any factor that affects a firm's marginal cost curve is a determinant of its supply curve.

(C) At any given market price, the firm now supplies more units of output.

(D) The marginal cost will shift downward.

Choose the correct answer from the options given below:

Match List-I with List-II

List-I	List-II
(A) The minimum level of profit that is needed to keep a firm in the existing business.	(I) Super-normal profit
(B) Profit that a firm earns over and above the normal profit.	(II) Loss
(C) AR = AC	(III) Break even point
(D) The point of minimum average cost at which the supply curve cuts the AC curve.	(IV) Normal Profit

Choose the correct answer from the options given below:

Arrange the following statements considering the shape of long run marginal costs (LRMC).

(A) As output increases, LRAC initially falls (MC < AC).

(B) For the first unit of output, both LRMC and LRAC are the same.

(C) After a certain point, LRAC rises (MC > AC).

(D) LRMC curve is therefore a 'U'-shaped curve.

Choose the correct answer from the options given below:

1. (A), (B), (C), (D)
2. (B), (A), (C), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)