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CUET Economics 2025 PYQs22 May Shift 2. Free, no login required.

Micro

past year questions, CUET Economics 2025 22 May Shift 2

Production & Costs

past year questions, Micro, CUET Economics 2025 22 May Shift 2

Medium

Match List-I with List-II

List-IList-II
(A) TVC(I) AVC × quantity
(B) SAC(II) AVC + AFC
(C) TC(III) TVC + TFC
(D) LRMC(IV) (TC at q₁ units) – (TC at q₁ – ₁ units)

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 1

Option 1: (A) - (I), (B) - (II), (C) - (III), (D) - (IV) -> Let's verify each match:

(A) TVC (Total Variable Cost) = AVC × quantity - This is correct because when you multiply the average variable cost per unit by the total quantity produced, you get the total variable cost.

(B) SAC (Short-run Average Cost) = AVC + AFC - This is correct because short-run average cost is the sum of average variable cost and average fixed cost per unit.

(C) TC (Total Cost) = TVC + TFC - This is correct because total cost is always the sum of total variable costs and total fixed costs.

(D) LRMC (Long-run Marginal Cost) = (TC at q₁ units) – (TC at q₁ – ₁ units) - This is correct because marginal cost represents the change in total cost when one additional unit is produced, which is calculated by subtracting the total cost at (q₁ - 1) units from the total cost at q₁ units.

All matches align perfectly with standard microeconomic cost definitions. -> correct

Related questions:

2025: 3 June Shift 1

Chronologically, arrange the following statements in the context of shape of AP curve.

(A) MP starts falling, the AP continues to rise as long as MP remains higher than AP.

(B) At the first level of output, the MP and the AP are the same.

(C) MP fall sufficiently, its value becomes less than the AP and the AP also falls.

(D) MP rises, AP being the average of marginal products, also rises, but rises less than MP.

Choose the correct answer from the options given below:

2025: 15 May Shift 1

Identify the incorrect statement about the relation between Marginal Product(MP) and Average Product (AP).

2025: 22 May Shift 1

A firm produce qq amount of output using x1x₁ amount of factor 1 and x2x₂ amount of factor 2.

Match List-I with List-II

List-IList-II
(A). Cobb-Douglas Production Function(I). f(tx1,tx2)>t⋅f(x1,x2)f(tx_1, tx_2) > t \cdot f(x_1, x_2)
(B). Constant returns to scale(II). f(tx1,tx2)<t⋅f(x1,x2)f(tx_1, tx_2) < t \cdot f(x_1, x_2)
(C). Increasing returns to scale(III). q=x1αx2βq = x_1^\alpha x_2^\beta
(D). Decreasing returns to scale(IV). f(tx1,tx2)=t⋅f(x1,x2)f(tx_1, tx_2) = t \cdot f(x_1, x_2)

Choose the correct answer from the options given below:

2025: 29 May Shift 1

A firm will shut down in the short run if__________.

2025: 28 May Shift 1

Arrange the following statements considering the shape of long run marginal costs (LRMC).

(A) As output increases, LRAC initially falls (MC < AC).

(B) For the first unit of output, both LRMC and LRAC are the same.

(C) After a certain point, LRAC rises (MC > AC).

(D) LRMC curve is therefore a 'U'-shaped curve.

Choose the correct answer from the options given below:

  1. (A), (B), (C), (D)
  2. (B), (A), (C), (D)
  3. (B), (A), (D), (C)
  4. (C), (B), (D), (A)

2026: 21 May Shift 2

What are the values of marginal product and average product, when changes in labour from 3 to 4 with leads to changes in total product from 40 to 50?

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