Match List-I with List-II, List-I, List-II, (A) Total Cost (TC), (I) Total variable cost/ Quantity (TVC/Q), (B) Average Variable Cost (AVC), (II) Total Fixed Cost / Quantity (TFC/Q), (C) Short run average cost (SAC), (III) Total Variable Cost + Total Fixed Cost., (D) Average fixed cost (AFC), (IV) Average Variable Cost + Average Fixed Cost., Choose the correct answer from the options given below:

Question

Match List-I with List-II | List-I | List-II | |---|---| | (A) Total Cost (TC) | (I) Total variable cost/ Quantity (TVC/Q) | | (B) Average Variable Cost (AVC) | (II) Total Fixed Cost / Quantity (TFC/Q) | | (C) Short run average cost (SAC) | (III) Total Variable Cost + Total Fixed Cost. | | (D) Average fixed cost (AFC) | (IV) Average Variable Cost + Average Fixed Cost. | Choose the correct answer from the options given below:

Accepted Answer

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

Answer

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

Answer

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

Answer

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

List-I	List-II
(A) Average product of labour	(I) TVC/q
(B) Marginal product of labour	(II) TPL/L
(C) Average variable cost(AVC)	(III) Δ TPL/ΔL
(D) Average Fixed Cost(AFC)	(IV) TFC/q

List-I	List-II
(A) Normal profit	(I) Minimum level of profit need by firm to be in business.
(B) Shut down point	(II) Minimum level of LRAC curve
(C) Break-even point	(III) Profit Over and above normal profit
(D) Super-normal profit	(IV) The point on which firm earn only normal profit.

List-I	List-II
(A) Total Cost (TC)	(I) Total variable cost/ Quantity (TVC/Q)
(B) Average Variable Cost (AVC)	(II) Total Fixed Cost / Quantity (TFC/Q)
(C) Short run average cost (SAC)	(III) Total Variable Cost + Total Fixed Cost.
(D) Average fixed cost (AFC)	(IV) Average Variable Cost + Average Fixed Cost.

Solution

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CUET Economics Past Year Questions (Topic-Wise)