CUET Economics 2026 13th May Shift 1 PYQs

Which of the following cost curve takes the shape of rectangular hyperbola?

Identify the correct statements from the following:

(A) As long as MP>AP, the average Product (AP) can rise even when the Marginal Product (MP) is falling.

(B) The law of variable proportions operates only if the factor ratio happens to change.

(C) Total Product (TP) must increase no matter if there are increasing or decreasing returns to a factor.

(D) Marginal Product (MP) = Average Product (AP), when AP is maximum.

Choose the correct answer from the options given below:

Find the returns to scale for the following Cobb--Douglas production function.

$Q=L^{1/3}K^{3/4}$