Choose the incorrect option from the following with reference to production in the short run. Option 1: The law of variable proportions is applicable. Option 2: The firm can change more than one factor in short run. Option 3: The firm experiences returns to a factor. Option 4: The law of diminishing marginal returns is applicable.

The answer is 'The firm can change more than one factor in short run.'. View full solution:

CUET Economics - Choose the incorrect option from the following with reference to production in the short run. | PYQs + Solutions

CUET Economics 2025 15 May Shift 1

Micro

Medium

The law of variable proportions is applicable.

The firm can change more than one factor in short run.

The firm experiences returns to a factor.

The law of diminishing marginal returns is applicable.

✅ Correct Option: 2

Related questions:

3 June Shift 2

Match List-I with List-II

List-I	List-II
(A) Total revenue	(I) Minimum of LRAC curve.
(B) Supply	(II) A firm earns only normal profit.
(C) Shut down point	(III) Market price multiplied by the firm's output.
(D) Break-even point	(IV) Quantity sold at a given price.

Choose the correct answer from the options given below:

29 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Production function	(I) $f(tx_1, tx_2) > t f(x_1, x_2)$
(B) Constant returns to scale	(II) $f(tx_1, tx_2) < t f(x_1, x_2)$
(C) Increasing returns to scale	(III) $f(x_1, x_2)$
(D) Decreasing returns to scale	(IV) $f(tx_1, tx_2) = t f(x_1, x_2)$

Choose the correct answer from the options given below:

30 May Shift 1

What will be the average variable cost (AVC) for producing 200 vases?