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 ...... Option 1: Average variable cost. Option 2: Average fixed cost. Option 3: Marginal cost. Option 4: Total cost.

The answer is 'Average variable cost.'. View full solution:

CUET Economics - 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 ...... | PYQs + Solutions

CUET Economics 2025 22 May Shift 1

Micro

Medium

Average variable cost.

Average fixed cost.

Marginal cost.

Total cost.

✅ Correct Option: 1

Related questions:

22 May Shift 2

Select the correct statements from the following with regard to cost curves :

(A) Short run marginal cost, average variable cost and short run average cost curves are 'U'-shaped.

(B) SMC curve cuts the AVC curve from below at the minimum point of AVC.

(D) Average fixed cost curve is downward sloping.

Choose the correct answer from the options given below:

29 May Shift 2

The set of all possible combinations of the two inputs that yield the same maximum possible level of output is known as...........

3 June Shift 2

If all the resources are used in the production of cloth, the curve which gives the maximum amount of cloth produced in the economy for any given amount of machine is called?

CUET Economics 2025 22 May Shift 1 PYQs

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