CUET Economics 2026 12th May Shift 1 PYQs

The Total Fixed Cost of producing a good is Rs. 20. The Total Cost of producing 3 units of a good is Rs. 44 while that of producing 4 units is Rs. 49. What would be the Marginal Cost of producing the 4th unit of the good?

The given the Cobb-Douglas production function

$Q = L^{2/3}K^{1/3}$, which of the following is correct about this production function?

A. The firm produces Q amount of output using L and K inputs only.

B. The given production function exhibits decreasing returns to scale.

C. The given production function exhibits constant returns to scale.

D. The given production function exhibits increasing returns to scale.

Choose the correct answer from the options given below:

The problem of 'what to produce' relates to?