Match the LIST-I with LIST-II | LIST-I | LIST-II | |---|---| | A. Short run marginal cost | I. A rectangular hyperbola shaped curve whose value decreases with increase in output. | | B. Total fixed cost | II. The shape of this cost curve is U-shaped and its value is undefined at zero output. | | C. Average fixed cost | III. An upward sloping curve derived grom the vertical summation of TFC and TVC. | | D. Total Cost | IV. A horizontal straight line, the value of which cannot be changed. | Choose the correct answer from the options given below:

Question

Option 1: A-I, B-II, C-III, D-IV

Option 2: A-II, B-IV, C-I, D-III

Option 3: A-II, B-III, C-I, D-IV

Option 4: A-III, B-IV, C-I, D-II

AfterBoards · Accepted Answer

The answer is 'A-II, B-IV, C-I, D-III'. View full solution:

List-I	List-II
(A) Production function	(I) $x_1^α x_2^β$
(B) Constant return to scale	(II) $α + β = 1$
(C) Increasing return to scale	(III) $α + β < 1$
(D) Decreasing return to scale	(IV) $α + β > 1$

CUET Economics 2026 19th May Shift 2 PYQs

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