CUET Economics 2025 15 May Shift 1 PYQs

The case where a marginal product is greater than the average product, where?

1. MP cut AP at Minimum
2. AP remains Constant
3. AP Decreases
4. AP Increases

Choose the correct equations in the context of costs.

(A) TFC = AFC × quantity

(B) LRMC = (TC at $q_n$ units) – (TC at $q_{n-1}$ units)

(C) TC = TVC × TFC

(D) LRAC = TC/q

Choose the correct answer from the options given below:

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 ......