CUET Economics 2025 26 May Shift 2 PYQs

In the perfectly competitive market, if 10 packets of bread are sold at the price of Rs. 25 per packet, what will be the total revenue of a bread manufacturer?

1. Rs. 25
2. Rs. 250
3. Rs. 0.4
4. Rs. 2.5

Arrange a statement of market equilibrium when the demand curve shifts leftward:

(A). The shift indicates that at any price the quantity demanded is less than before.

(B). Some firms will reduce the price of their commodity so that they can sell their desired quantity.

(C). Excess supply will arise.

(D). At the new equilibrium, quantity and price will be less than before.

Choose the correct answer from the options given below:

Perfect information implies that all buyers and all sellers are completely informed about the price, quality and other relevant details about the product, as well as the market. These features result in the single most distinguishing characteristic of perfect competition, that is...