CUET Economics - Which of the following is NOT a condition for profit maximization of a perfectly competitive firm in the short run? | PYQs + Solutions

CUET Economics 2025 16 May Shift 1

Micro

Medium

The price 'p' must equal MC

Average revenue must be rising.

Price must be greater than the average variable cost (p > AVC)

Marginal cost must be non-decreasing at the profit maximizing level of output.

✅ Correct Option: 2

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29 May Shift 2

In a perfectly competitive market choose the correct statement from the following.

(A) Equilibrium occurs where market demand equals market supply.

(B) Each firm employs labour upto the point where the marginal revenue of labour equals the wage rate.

(D) Equilibrium price is always equal to minimum average cost of the firms.

Choose the correct answer from the options given below:

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In perfectly competitive market, the demand curve of a firm is?

13 May Shift 2

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CUET Economics 2025 16 May Shift 1 PYQs