CUET Economics 2025 26 May Shift 2Micro > EasyThe excess of total revenue over total cost is maximum.Where the excess of total cost over total revenue is maximum.Where the excess of marginal revenue over marginal cost is maximum.Where the excess of marginal cost over marginal revenue is maximum.✅ Correct Option: 1Related questions:CUET Economics 30 May Shift 2A firm wishes to maximize its profit, find the correct conditions from the following, that must be held by the firm at q₂ at which its profit is maximum. (A) The price must be less than the average variable cost (B) The price must be greater than the average variable cost (C) Marginal cost must be non-decreasing (D) The price, p, must equal MC Choose the correct answer from the options given below:CUET Economics 30 May Shift 2Choose the correct statements from the options given below in terms of the shapes of the short run cost curves. (A) Average fixed cost curve is a rectangular hyperbola. (B) Total fixed cost is horizontal straight line. (C) Average variable cost is upward sloping. (D) Marginal cost is U shaped. Choose the correct answer from the options given below:CUET Economics 3 June Shift 2Choose the correct statements considering the relationship between marginal product and average product. (A) Average product and marginal product curve are 'U'shaped. (B) Average product and marginal product curve are inverse 'U'shaped. (C) When the average product increases, the marginal product is greater than the average product. (D) When the average product decreases, the marginal product is less than the average product. Choose the correct answer from the options given below: