CUET Economics - When more workers are hired, the land begins to get 'crowded'. Each worker now has insufficient land to work efficiently. So the output added by each additional worker is now proportionally less as a result the marginal product begins to __________. | PYQs + Solutions

CUET Economics 2025 22 May Shift 1

Micro

Medium

Constant.

Rise.

Fall.

Zero.

✅ Correct Option: 3

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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 ......

30 May Shift 2

The shape of the long-run average cost curve and long-run marginal cost curve.

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From the following which is incorrect with respect to firm's profit maximization in long run?

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Price = Short Run Marginal Cost
Price ≥ Long Run Average Variable Cost

CUET Economics 2025 22 May Shift 1 PYQs

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