Match the LIST-I with LIST-II, LIST-I, LIST-II, A. Production function, I., Additional Product with change in input., B. Marginal Product (MP), II., Marginal product first increases and then begins to fall., C. Law of variable proportions, III., Change in output due to change in factors., D. Returns to Scale, IV., Relationship between inputs used and output produced., Choose the correct answer from the options given below:

Question

Match the LIST-I with LIST-II | LIST-I | | LIST-II | |---|---|---| | A. Production function | I. | Additional Product with change in input. | | B. Marginal Product (MP) | II. | Marginal product first increases and then begins to fall. | | C. Law of variable proportions | III. | Change in output due to change in factors. | | D. Returns to Scale | IV. | Relationship between inputs used and output produced. | Choose the correct answer from the options given below:

Accepted Answer

A-IV, B-I, C-II, D-III

Answer

A-II, B-I, C-IV, D-III

Answer

A-IV, B-II, C-I, D-III

Answer

A-III, B-I, C-IV, D-II

List-I	List-II
(A) Total revenue	(I) Minimum of LRAC curve.
(B) Supply	(II) A firm earns only normal profit.
(C) Shut down point	(III) Market price multiplied by the firm's output.
(D) Break-even point	(IV) Quantity sold at a given price.

Option	Average revenue	Quantity
A	10	2
B	12	1.5
C	14	1.0
D	16	0.5

LIST-I		LIST-II
A. Production function	I.	Additional Product with change in input.
B. Marginal Product (MP)	II.	Marginal product first increases and then begins to fall.
C. Law of variable proportions	III.	Change in output due to change in factors.
D. Returns to Scale	IV.	Relationship between inputs used and output produced.

Solution

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CUET Economics Past Year Questions (Topic-Wise)