CUET Economics - Which of the following condition must be satisfied for profit maximization under perfect competition for the Short Run (SR) and for the Long Run (LR) respectively? Where P = Price, AVC = Average variable cost, AFC = Average fixed cost, AC = Average cost. | PYQs + Solutions

CUET Economics 2026 11th May Shift 1

Micro

Medium

In the Short Run P \geq AC & In the Long Run P \geq AVC

In the Short Run P \geq AVC & In the Long Run P \geq AFC

In the Short Run P \geq AC & In the Long Run P \geq AFC

In the Short Run P \geq AVC & In the Long Run P \geq AC

✅ Correct Option: 4

CUET Economics 2026 11th May Shift 1 PYQs