CUET Economics 2025 22 May Shift 1 PYQs

For a hypothetical firm, the total cost of producing 5 units of a commodity is Rs. 310 and that of producing 8 units is Rs. 850. If the firm has to spend Rs. 50 even when there is no output, what will be the marginal cost of producing the 8th unit?

The difference between the revenue and cost is known as________

In a long run average cost curve which point is said to be the constant return to scale?