CUET Economics 2025 22 May Shift 2 PYQs

Match List-I with List-II

List-I	List-II
(A) Payments by a firm for inputs.	(I) Cost of production
(B) Output sold by a firm in the market.	(II) Revenue
(C) Inputs are transformed into output.	(III) Production
(D) Objective of a firm to maximize.	(IV) Profit

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Match List-I with List-II

List–I	List–II
(A) A proportional increase in all inputs results in an increase in output by a smaller proportion	(I) Constant returns to scale
(B) A proportional increase in all inputs results in an increase in output by a larger proportion	(II) Law of variable proportions
(C) A proportional increase in all inputs results in an increase in output by the same proportion	(III) Decreasing Returns to Scale
(D) Factor proportions change as long as one factor is held constant and the other factors increases	(IV) Increasing Returns to Scale

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Match List-I with List-II

List–I	List–II
(A) Total variable cost	(I) TR – (TVC + TFC)
(B) Total Revenue	(II) TVCₙ – TVCₙ₋₁
(C) Profit	(III) Average variable cost × Quantity
(D) Marginal cost	(IV) Price × Quantity

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