CUET Economics - Micro - Production & Costs | Free Questions

Q1:

3 June Shift 2

Micro

>

Medium

Q1:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q2:

3 June Shift 2

Micro

>

Medium

Q2:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q3:

3 June Shift 2

Micro

>

Medium

Q3:

Vertical to y-axis.

Downward sloping left to right.

Rectangular hyperbola.

Horizontal to x-axis.

Correct Answer

Option 3

Correct Answer

Explanation →

Q4:

3 June Shift 2

Micro

>

Medium

Q4:

Production Possibility Set.

Production Possibility Frontier.

Isoquant Curve.

Indifference Curve.

Correct Answer

Option 2

Correct Answer

Explanation →

Q5:

3 June Shift 2

Micro

>

Easy

Q5:

Average Product.

Total Product.

Marginal Product.

Physical Product.

Correct Answer

Option 3

Correct Answer

Explanation →

Q6:

3 June Shift 2

Micro

>

Medium

Q6:

Returns to Scale.

Constant returns to scale.

Increasing Returns to Scale.

Decreasing Returns to Scale.

Correct Answer

Option 4

Correct Answer

Explanation →

Q7:

3 June Shift 2

Micro

>

Easy

Q7:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q8:

3 June Shift 2

Micro

>

Medium

Q8:

Total product begins to fall.

Marginal product begins to fall.

Average product begins to rise.

Total product begins to rise.

Correct Answer

Option 2

Correct Answer

Explanation →

Q9:

3 June Shift 2

Micro

>

Easy

Q9:

Rs. $80$

Rs. $13$

Rs. $536$

Rs. $720$

Correct Answer

Option 2

Correct Answer

Explanation →

Q10:

3 June Shift 1

Micro

>

Medium

Q10:

One factor is constant.

Some factors are more efficient than others.

Specialisation of factors.

None of the factors are constant.

Correct Answer

Option 1

Correct Answer

Explanation →

Q11:

3 June Shift 1

Micro

>

Medium

Q11:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q12:

3 June Shift 1

Micro

>

Medium

Q12:

(B), (D), (A), (C)

(B), (C), (A), (D)

(A), (C), (D), (B)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q13:

3 June Shift 1

Micro

>

Medium

Q13:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q14:

3 June Shift 1

Micro

>

Medium

Q14:

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q15:

3 June Shift 1

Micro

>

Easy

Q15:

Own price of the commodity.

Goal of the firm.

Technique of production.

Number of firms.

Correct Answer

Option 1

Correct Answer

Explanation →

Q16:

3 June Shift 1

Micro

>

Easy

Q16:

The choice of goods and services.

The distribution of income.

The market value of goods and services.

The choice of technique.

Correct Answer

Option 1

Correct Answer

Explanation →

Q17:

2 June Shift 1

Micro

>

Medium

Q17:

increases.

decreases.

remains constant.

zero.

Correct Answer

Option 1

Correct Answer

Explanation →

Q18:

2 June Shift 1

Micro

>

Easy

Q18:

Total Revenue (TR) > Total Cost (TC)

Total Revenue (TR) < Total Cost (TC)

Total Revenue (TR) = Total Cost (TC)

Total Cost (TC) = 0

Correct Answer

Option 3

Correct Answer

Explanation →

Q19:

2 June Shift 1

Micro

>

Medium

Q19:

AR = MR = AC and AC must be rising.

AR = MR = MC and MC must be falling.

AR = MR = TC and TC must be rising.

AR = MR = MC and MC must be rising.

Correct Answer

Option 4

Correct Answer

Explanation →

Q20:

2 June Shift 1

Micro

>

Medium

Q20:

Total Product is also constant.

Total Product is zero.

Total Product is increasing at a constant rate.

Total Product is decreasing at a constant rate.

Correct Answer

Option 3

Correct Answer

Explanation →

Q21:

2 June Shift 1

Micro

>

Medium

Q21:

A rectangular hyperbola.

A straight line parallel to X axis.

A straight line parallel to Y axis.

A U- shaped curve.

Correct Answer

Option 1

Correct Answer

Explanation →

Q22:

2 June Shift 1

Micro

>

Medium

Q22:

Law of Diminishing Marginal Rate of Transformation.

Law of Diminishing Marginal Utility.

Law of Variable Proportions.

Law of Diminishing Returns to Scale.

Correct Answer

Option 3

Correct Answer

Explanation →

Q23:

31 May Shift 1

Micro

>

Medium

Q23:

The price must equal to MC.

Marginal cost must be non-decreasing.

Price must be less than the average cost.

Price must be greater than the average cost.

Correct Answer

Option 3

Correct Answer

Explanation →

Q24:

31 May Shift 1

Micro

>

Medium

Q24:

The area of rectangle OpAq₁

The area of rectangle OEBq₁

the area of rectangle OpAq₁ – the area of rectangle OEBq₁

tan Θ

Correct Answer

Option 2

Correct Answer

Explanation →

Q25:

31 May Shift 1

Micro

>

Medium

Q25:

Price = Long Run Marginal Cost

LRMC is first decreasing and then increasing

Price = Short Run Marginal Cost

Price ≥ Long Run Average Variable Cost

Correct Answer

Option 3

Correct Answer

Explanation →

Q26:

31 May Shift 1

Micro

>

Medium

Q26:

Factor proportion changes with keeping one factor constant.

Decrease in all input.

Increase in all input.

All factors remain constant.

Correct Answer

Option 1

Correct Answer

Explanation →

Q27:

31 May Shift 1

Micro

>

Easy

Q27:

Decreasing Return to scale

Increasing Return to scale.

Constant Return to scale.

Incremental Productivity.

Correct Answer

Option 1

Correct Answer

Explanation →

Q28:

31 May Shift 1

Micro

>

Easy

Q28:

Decreasing Return to scale.

Incresing Returns to scale.

Constant Return to scale.

Decresing Productivity.

Correct Answer

Option 3

Correct Answer

Explanation →

Q29:

31 May Shift 1

Micro

>

Easy

Q29:

Marginal diminishing returns.

Decreasing return to scale.

Increasing return to scale.

Constant Return to scale.

Correct Answer

Option 4

Correct Answer

Explanation →

Q30:

31 May Shift 1

Micro

>

Easy

Q30:

Decreasing Return to scale.

Increasing return to scale.

Constant Return to scale.

Diminishing Marginal Product.

Correct Answer

Option 2

Correct Answer

Explanation →

Q31:

30 May Shift 2

Micro

>

Medium

Q31:

$f(tx, ty) > t f(x, y)$ .

$f(tx, ty) < t f(x, y)$ .

$f(tx, ty) = t f(x, y)$ .

$x^α y^β$ .

Correct Answer

Option 1

Correct Answer

Explanation →

Q32:

30 May Shift 2

Micro

>

Medium

Q32:

(A), (C) and (D) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q33:

30 May Shift 2

Micro

>

Easy

Q33:

Production Possibility Frontier.

Production Possibility Set.

Isoquant Curve.

Production Function.

Correct Answer

Option 2

Correct Answer

Explanation →

Q34:

30 May Shift 2

Micro

>

Medium

Q34:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q35:

30 May Shift 2

Micro

>

Medium

Q35:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q36:

30 May Shift 2

Micro

>

Medium

Q36:

(A), (B), (C), (D)

(B), (A), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q37:

30 May Shift 2

Micro

>

Medium

Q37:

Super Normal Profit.

Opportunity cost.

Break Even Point.

Shut Down Point.

Correct Answer

Option 3

Correct Answer

Explanation →

Q38:

30 May Shift 2

Micro

>

Medium

Q38:

TC/q

(TC at q₁ units) – (TC at q₁ – 1 units)

TVC/q

TFC/q

Correct Answer

Option 2

Correct Answer

Explanation →

Q39:

30 May Shift 2

Micro

>

Medium

Q39:

Rising

Falling

Constant

Equal to output

Correct Answer

Option 1

Correct Answer

Explanation →

Q40:

30 May Shift 2

Micro

>

Medium

Q40:

LRAC cut LRMC from above at the minimum point LRAC.

LRAC cut LRMC from below at the minimum point LRAC.

LRMC cut LRAC from above at the minimum point LRAC.

LRMC cut LRAC from below at the minimum point of LRAC.

Correct Answer

Option 4

Correct Answer

Explanation →

Q41:

30 May Shift 2

Micro

>

Medium

Q41:

Equal to average cost.

Less than the average cost.

Greater than the average cost.

Falling.

Correct Answer

Option 3

Correct Answer

Explanation →

Q42:

30 May Shift 2

Micro

>

Medium

Q42:

Only LRAC is U shaped.

LRAC is U shaped and LRMC upward sloping.

Rectangular hyperbole.

U shaped.

Correct Answer

Option 4

Correct Answer

Explanation →

Q43:

30 May Shift 1

Micro

>

Medium

Q43:

Decreasing.

Increases at constant rate.

Increases at Increasing rate.

Increases at diminishing rate.

Correct Answer

Option 4

Correct Answer

Explanation →

Q44:

30 May Shift 1

Micro

>

Easy

Q44:

2.86

20

3.33

120

Correct Answer

Option 3

Correct Answer

Explanation →

Q45:

30 May Shift 1

Micro

>

Medium

Q45:

Average Cost Curve.

Marginal Cost Curve.

Average Fixed Cost Curve.

Variable Cost Curve.

Correct Answer

Option 3

Correct Answer

Explanation →

Q46:

30 May Shift 1

Micro

>

Easy

Q46:

40000

20,000

10,000

50,000

Correct Answer

Option 2

Correct Answer

Explanation →

Q47:

30 May Shift 1

Micro

>

Medium

Q47:

300

30,000

60,000

18,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q48:

30 May Shift 1

Micro

>

Easy

Q48:

There will be parallel increase in fixed cost and variable cost.

Fixed cost will also increase.

Fixed cost will not change.

Fixed cost will decrease.

Correct Answer

Option 4

Correct Answer

Explanation →

Q49:

30 May Shift 1

Micro

>

Easy

Q49:

50,000

60,000

25,000

40,000

Correct Answer

Option 1

Correct Answer

Explanation →

Q50:

30 May Shift 1

Micro

>

Medium

Q50:

150

300

250

600

Correct Answer

Option 2

Correct Answer

Explanation →

Q51:

29 May Shift 2

Micro

>

Medium

Q51:

Upward sloping

Rectangular hyperbola

Vertical

Horizontal

Correct Answer

Option 2

Correct Answer

Explanation →

Q52:

29 May Shift 2

Micro

>

Medium

Q52:

$f(tx_1, tx_2) > t f(x_1, x_2)$ i.e. constant returns to scale.

$f(tx_1, tx_2) < t f(x_1, x_2)$ i.e increasing returns to scale.

$f(tx_1, tx_2) < t f(x_1, x_2)$ i.e decreasing returns to scale.

$f(tx_1, tx_2) = t f(x_1, x_2)$ i.e decreasing returns to scale.

Correct Answer

Option 3

Correct Answer

Explanation →

Q53:

29 May Shift 2

Micro

>

Medium

Q53:

As long as AVC is falling, SMC must be less than the AVC.

SMC curve cuts the AVC curve from below at the minimum point of AVC.

As AVC rises, SMC must be greater than the AVC.

SMC curve cuts the AVC curve from below at the minimum point of SMC.

Correct Answer

Option 4

Correct Answer

Explanation →

Q54:

29 May Shift 2

Micro

>

Hard

Q54:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q55:

29 May Shift 2

Micro

>

Medium

Q55:

Marginal product fall and average product rises.

Marginal product rises.

Marginal product falls.

Marginal product rise and average product falls.

Correct Answer

Option 3

Correct Answer

Explanation →

Q56:

29 May Shift 2

Micro

>

Medium

Q56:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q57:

29 May Shift 2

Micro

>

Medium

Q57:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q58:

29 May Shift 2

Micro

>

Medium

Q58:

Isocost.

Indifference curve.

Isoquant.

Budget line.

Correct Answer

Option 3

Correct Answer

Explanation →

Q59:

29 May Shift 1

Micro

>

Easy

Q59:

Cost Function

Production function

Opportunity cost

Revenue function

Correct Answer

Option 2

Correct Answer

Explanation →

Q60:

29 May Shift 1

Micro

>

Easy

Q60:

Marginal rate of substitution

Marginal rate of Transformation

Marginal rate of Exchange

Opportunity Cost

Correct Answer

Option 2

Correct Answer

Explanation →

Q61:

29 May Shift 1

Micro

>

Medium

Q61:

Price < Average Variable Cost.

Price < Average Fixed Cost.

Total Revenue > Total Cost.

Price = Average Cost.

Correct Answer

Option 1

Correct Answer

Explanation →

Q62:

29 May Shift 1

Micro

>

Easy

Q62:

Increased advertising cost.

Implementation of a new machine that speeds up production.

Raising prices to increase revenue.

Hiring more employees to expand the business.

Correct Answer

Option 2

Correct Answer

Explanation →

Q63:

29 May Shift 1

Micro

>

Easy

Q63:

The total amount of goods and services which consumers are willing to buy.

The total amount of goods and services which producers are willing to sell at different price.

The total market demand for a product.

The amount of goods produced by the government.

Correct Answer

Option 2

Correct Answer

Explanation →

Q64:

29 May Shift 1

Micro

>

Medium

Q64:

Change in consumer's preference.

Change in price of related goods.

Advancement of technology.

Government policy.

Correct Answer

Option 3

Correct Answer

Explanation →

Q65:

29 May Shift 1

Micro

>

Easy

Q65:

To increase demand for a product.

To maintain price level and to increase profit margins.

To maintain high price in the market.

To reduce number of suppliers in the market.

Correct Answer

Option 2

Correct Answer

Explanation →

Q66:

29 May Shift 1

Micro

>

Easy

Q66:

It decreases the quantity supplied.

It does not affect the quantity supplied.

It increases the quantity supplied.

It decreases demand.

Correct Answer

Option 3

Correct Answer

Explanation →

Q67:

28 May Shift 2

Micro

>

Medium

Q67:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q68:

28 May Shift 2

Micro

>

Easy

Q68:

Diminishing Returns to Scale.

Law of Variable Proportions.

Law of Diminishing Marginal Rate of Substitution.

Increasing Returns to Scale.

Correct Answer

Option 2

Correct Answer

Explanation →

Q69:

28 May Shift 2

Micro

>

Hard

Q69:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q70:

28 May Shift 2

Micro

>

Medium

Q70:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q71:

28 May Shift 2

Micro

>

Medium

Q71:

1200

1400

1000

800

Correct Answer

Option 3

Correct Answer

Explanation →

Q72:

28 May Shift 2

Micro

>

Easy

Q72:

Marginal Cost.

Total Fixed Cost.

Total Variable Cost.

Average Cost.

Correct Answer

Option 3

Correct Answer

Explanation →

Q73:

28 May Shift 2

Micro

>

Medium

Q73:

Rs.15

Rs.10

Rs.20

Rs.25

Correct Answer

Option 3

Correct Answer

Explanation →

Q74:

28 May Shift 2

Micro

>

Easy

Q74:

Total Variable Cost and Total Cost increase.

Total Variable Cost and Total Cost decrease.

Total Variable Cost decrease and Total Cost increase.

Total Variable Cost increase and Total Cost decrease.

Correct Answer

Option 1

Correct Answer

Explanation →

Q75:

28 May Shift 2

Micro

>

Easy

Q75:

Flexible.

Remain Constant.

Increases.

Decreases.

Correct Answer

Option 2

Correct Answer

Explanation →

Q76:

28 May Shift 2

Micro

>

Medium

Q76:

AVC, AFC and MC.

AFC and TC.

VC and MC.

TC and FC.

Correct Answer

Option 1

Correct Answer

Explanation →

Q77:

28 May Shift 1

Micro

>

Easy

Q77:

By dividing the total product by the number of labor.

By dividing the change in total product by the change in labor.

By dividing the change in total product by the number of labor.

By dividing the total product by the change in labor.

Correct Answer

Option 1

Correct Answer

Explanation →

Q78:

28 May Shift 1

Micro

>

Medium

Q78:

Average variable cost

Average cost

Total variable cost

Total cost

Correct Answer

Option 3

Correct Answer

Explanation →

Q79:

28 May Shift 1

Micro

>

Medium

Q79:

(A) and (D) only

(A) and (B) only

(B) and (D) only

(A) and (C) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q80:

28 May Shift 1

Micro

>

Medium

Q80:

(A), (B), (C), (D)

(B), (A), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q81:

28 May Shift 1

Micro

>

Medium

Q81:

The rising part of the marginal cost curve.

The rising part of the marginal cost curve from and above the minimum average variable cost curve.

The rising part of the marginal cost curve from and above the minimum average cost curve.

The marginal cost curve.

Correct Answer

Option 2

Correct Answer

Explanation →

Q82:

28 May Shift 1

Micro

>

Easy

Q82:

Both Inverse 'U' Shaped

Both 'U' Shaped

AP 'U' Shaped and MP Inverse 'U' Shaped

MP 'U' Shaped and AP Inverse 'U' shaped

Correct Answer

Option 1

Correct Answer

Explanation →

Q83:

28 May Shift 1

Micro

>

Medium

Q83:

MP cut AP at Minimum

AP remains Constant

AP Decreases

AP Increases

Correct Answer

Option 4

Correct Answer

Explanation →

Q84:

28 May Shift 1

Micro

>

Easy

Q84:

50

13.33

12.5

40

Correct Answer

Option 3

Correct Answer

Explanation →

Q85:

28 May Shift 1

Micro

>

Medium

Q85:

14

2

30

16

Correct Answer

Option 2

Correct Answer

Explanation →

Q86:

28 May Shift 1

Micro

>

Easy

Q86:

capital

Input.

Final Output.

Intermediate output

Correct Answer

Option 2

Correct Answer

Explanation →

Q87:

27 May Shift 2

Micro

>

Easy

Q87:

Concave.

Downward sloping.

U- shaped.

Convex.

Correct Answer

Option 3

Correct Answer

Explanation →

Q88:

27 May Shift 2

Micro

>

Easy

Q88:

9.55

11

10

10.55

Correct Answer

Option 4

Correct Answer

Explanation →

Q89:

27 May Shift 2

Micro

>

Easy

Q89:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q90:

27 May Shift 2

Micro

>

Easy

Q90:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q91:

27 May Shift 2

Micro

>

Medium

Q91:

Decreasing Returns to Scale.

Constant Returns to Scale.

Law of Variable Proportions.

Increasing Returns to Scale.

Correct Answer

Option 2

Correct Answer

Explanation →

Q92:

27 May Shift 2

Micro

>

Medium

Q92:

Fall.

Rise.

Constant.

Zero.

Correct Answer

Option 2

Correct Answer

Explanation →

Q93:

27 May Shift 2

Micro

>

Medium

Q93:

Rectangular Hyperbola Curve.

L shape Curve.

'U' Shaped Curve.

Downward Straight Line Curve.

Correct Answer

Option 1

Correct Answer

Explanation →

Q94:

27 May Shift 2

Micro

>

Easy

Q94:

Decreasing Returns to Scale.

Law of Variable Proportions.

Increasing Returns to Scale.

Constant Returns to Scale.

Correct Answer

Option 2

Correct Answer

Explanation →

Q95:

26 May Shift 2

Micro

>

Easy

Q95:

What to Produce?

How to produce?

For whom to produce?

Problem of full employment of resources.

Correct Answer

Option 2

Correct Answer

Explanation →

Q96:

26 May Shift 2

Micro

>

Medium

Q96:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(A), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q97:

26 May Shift 2

Micro

>

Easy

Q97:

Remains same at all levels of output.

Increases with increase in the level of output.

Decreases with increase in level of output.

First increases and then decreases as the output is increased.

Correct Answer

Option 3

Correct Answer

Explanation →

Q98:

26 May Shift 2

Micro

>

Easy

Q98:

The excess of total revenue over total cost is maximum.

Where the excess of total cost over total revenue is maximum.

Where the excess of marginal revenue over marginal cost is maximum.

Where the excess of marginal cost over marginal revenue is maximum.

Correct Answer

Option 1

Correct Answer

Explanation →

Q99:

26 May Shift 2

Micro

>

Medium

Q99:

(B), (C), (D), (A)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q100:

26 May Shift 2

Micro

>

Easy

Q100:

The marginal product of an input initially rises and then, it starts falling.

The marginal product of an input initially falls and then, it starts rising.

The marginal product of an input throughout falls.

The marginal product remains constant throughout.

Correct Answer

Option 1

Correct Answer

Explanation →

Q101:

22 May Shift 2

Micro

>

Easy

Q101:

Rs. 500.

Rs. 5000.

Rs. 50.

Rs. 100.

Correct Answer

Option 2

Correct Answer

Explanation →

Q102:

22 May Shift 2

Micro

>

Medium

Q102:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q103:

22 May Shift 2

Micro

>

Medium

Q103:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q104:

22 May Shift 2

Micro

>

Medium

Q104:

Rise.

Become Horizontal.

Become Vertical.

Fall.

Correct Answer

Option 4

Correct Answer

Explanation →

Q105:

22 May Shift 2

Micro

>

Medium

Q105:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (C) and (D) only

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q106:

22 May Shift 2

Micro

>

Easy

Q106:

Consumption.

Production.

Demand.

Supply.

Correct Answer

Option 2

Correct Answer

Explanation →

Q107:

22 May Shift 2

Micro

>

Medium

Q107:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q108:

22 May Shift 2

Micro

>

Medium

Q108:

Average product curve cuts the marginal product curve from above at the maximum point of marginal product curve.

Average product curve cuts the marginal product curve from above at the minimum point of marginal product curve.

Marginal product curve cuts the average product curve from above at the minimum point of average product curve

Marginal product curve cuts the average product curve from above at the maximum point of average product curve.

Correct Answer

Option 4

Correct Answer

Explanation →

Q109:

22 May Shift 2

Micro

>

Medium

Q109:

Increasing returns to scale.

Constant returns to scale.

Decreasing returns to scale.

Returns to scale.

Correct Answer

Option 1

Correct Answer

Explanation →

Q110:

22 May Shift 2

Micro

>

Easy

Q110:

Rs. 20.

Rs. 15.

Rs. 13.

Rs. 16.

Correct Answer

Option 1

Correct Answer

Explanation →

Q111:

22 May Shift 1

Micro

>

Medium

Q111:

Constant.

Rise.

Fall.

Zero.

Correct Answer

Option 3

Correct Answer

Explanation →

Q112:

22 May Shift 1

Micro

>

Easy

Q112:

Indifference Curves.

Isocost curve.

Production Possibility Set.

Isoquant.

Correct Answer

Option 4

Correct Answer

Explanation →

Q113:

22 May Shift 1

Micro

>

Easy

Q113:

Correct Answer

Option 3

Correct Answer

Explanation →

Q114:

22 May Shift 1

Micro

>

Medium

Q114:

Increasing Returns to Scale.

Law of Variable Proportions.

Decreasing Returns to Scale.

Constant Returns to Scale.

Correct Answer

Option 3

Correct Answer

Explanation →

Q115:

22 May Shift 1

Micro

>

Medium

Q115:

(A), (C) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q116:

22 May Shift 1

Micro

>

Easy

Q116:

Total Product.

Marginal Product.

Average Product.

Marginal Utility.

Correct Answer

Option 2

Correct Answer

Explanation →

Q117:

22 May Shift 1

Micro

>

Easy

Q117:

Total Fixed Cost.

Average Variable Cost.

Average cost.

Total Cost.

Correct Answer

Option 3

Correct Answer

Explanation →

Q118:

22 May Shift 1

Micro

>

Medium

Q118:

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q119:

22 May Shift 1

Micro

>

Medium

Q119:

Price = Short run Marginal Cost.

Short run Marginal Cost is non-decreasing.

Price = Short run Average Cost.

Price ≥ Average Variable Cost.

Correct Answer

Option 3

Correct Answer

Explanation →

Q120:

22 May Shift 1

Micro

>

Medium

Q120:

Average variable cost.

Average fixed cost.

Marginal cost.

Total cost.

Correct Answer

Option 1

Correct Answer

Explanation →

Q121:

21 May Shift 1

Micro

>

Medium

Q121:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q122:

21 May Shift 1

Micro

>

Medium

Q122:

(A), (B) and (D) only

(B), (C) and (D) only

(A), (B), (C) and (D)

(A), (B) and (C) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q123:

21 May Shift 1

Micro

>

Medium

Q123:

(A) and (B) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(A), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q124:

21 May Shift 1

Micro

>

Medium

Q124:

Less than 1.

Equal to 1.

More than 1.

Not defined (infinity).

Correct Answer

Option 3

Correct Answer

Explanation →

Q125:

21 May Shift 1

Micro

>

Easy

Q125:

Increase the level of output.

Decrease the level of output.

Should keep the output level constant.

Should reduce the price of the product.

Correct Answer

Option 1

Correct Answer

Explanation →

Q126:

21 May Shift 1

Micro

>

Medium

Q126:

Downward sloping and concave to the origin.

Downward sloping and convex to the origin.

Downward sloping and linear.

Upward sloping straight line.

Correct Answer

Option 3

Correct Answer

Explanation →

Q127:

16 May Shift 1

Micro

>

Medium

Q127:

Marginal revenue is falling.

Marginal revenue is increasing.

Marginal revenue is always equal to average revenue.

marginal revenue is greater than average revenue.

Correct Answer

Option 3

Correct Answer

Explanation →

Q128:

16 May Shift 1

Micro

>

Easy

Q128:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q129:

16 May Shift 1

Micro

>

Medium

Q129:

The production function of a firm is a monetary relationship between inputs used and output produced by the firm.

The production function gives the maximum quantity of output that can be produced.

A production function deals only with the efficient use of inputs.

A production function is defined for a given technology.

Correct Answer

Option 1

Correct Answer

Explanation →

Q130:

16 May Shift 1

Micro

>

Medium

Q130:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q131:

16 May Shift 1

Micro

>

Medium

Q131:

Rs. 50

Rs. 180

Rs. 270

Rs. 540

Correct Answer

Option 2

Correct Answer

Explanation →

Q132:

16 May Shift 1

Micro

>

Medium

Q132:

2

3

5

6

Correct Answer

Option 3

Correct Answer

Explanation →

Q133:

15 May Shift 1

Micro

>

Medium

Q133:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q134:

15 May Shift 1

Micro

>

Medium

Q134:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q135:

15 May Shift 1

Micro

>

Medium

Q135:

As long as the AP increases, it must be the case that MP is greater than AP.

when AP falls, MP has to be less than AP.

MP curve cuts AP curve from above at its maximum.

AP can fall even when MP is rising.

Correct Answer

Option 4

Correct Answer

Explanation →

Q136:

15 May Shift 1

Micro

>

Medium

Q136:

(D), (C), (B), (A)

(B), (C), (A), (D)

(D), (C), (A), (B)

(C), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q137:

15 May Shift 1

Micro

>

Medium

Q137:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q138:

15 May Shift 1

Micro

>

Easy

Q138:

A combination of 5X and 3Y can be produced in the economy.

A combination of 3X and 5Y can be produced in the economy.

To produce 5 units of good X, production of good Y needs to be reduced by 3 units.

To produce 3 units of good X, production of good Y needs to be reduced by 5 units.

Correct Answer

Option 3

Correct Answer

Explanation →

Q139:

15 May Shift 1

Micro

>

Medium

Q139:

The law of variable proportions is applicable.

The firm can change more than one factor in short run.

The firm experiences returns to a factor.

The law of diminishing marginal returns is applicable.

Correct Answer

Option 2

Correct Answer

Explanation →

Q140:

15 May Shift 1

Micro

>

Medium

Q140:

$f(tx_1, tx_2) = tf(x_1, x_2)$ implies constant returns to scale.

$f(tx_1, tx_2) > tf(x_1, x_2)$ implies decreasing returns to scale.

$f(tx_1, tx_2) < tf(x_1, x_2)$ implies increasing returns to scale.

$f(tx_1, tx_2) = f(x_1, x_2)$ implies constant returns to scale.

Correct Answer

Option 1

Correct Answer

Explanation →

Q141:

14 May Shift 1

Micro

>

Hard

Q141:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q142:

14 May Shift 1

Micro

>

Easy

Q142:

Consumption

Production

Exchange

Demand and supply

Correct Answer

Option 2

Correct Answer

Explanation →

Q143:

14 May Shift 1

Micro

>

Medium

Q143:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q144:

14 May Shift 1

Micro

>

Medium

Q144:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q145:

14 May Shift 1

Micro

>

Medium

Q145:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q146:

14 May Shift 1

Micro

>

Medium

Q146:

Marginal cost > Average cost

Marginal cost < Average cost

Marginal cost = Average cost

Marginal cost = Total cost

Correct Answer

Option 2

Correct Answer

Explanation →

Q147:

14 May Shift 1

Micro

>

Easy

Q147:

'V'-shaped curve

Horizontal curve

'U'-shaped curve

Downword Sloping curve

Correct Answer

Option 3

Correct Answer

Explanation →

Q148:

14 May Shift 1

Micro

>

Medium

Q148:

Marginal cost = Total cost

Marginal cost = Average cost

Marginal cost < Average cost

Marginal cost > Average cost

Correct Answer

Option 4

Correct Answer

Explanation →

Q149:

14 May Shift 1

Micro

>

Medium

Q149:

Increasing returns to scale

Constant returns to scale

Decreasing returns to scale

Total production

Correct Answer

Option 3

Correct Answer

Explanation →

Q150:

14 May Shift 1

Micro

>

Medium

Q150:

LRMC is at minimum

LRAC is at minimum

LRAC is at maximum

LRMC is at maximum

Correct Answer

Option 2

Correct Answer

Explanation →

Q151:

13 May Shift 2

Micro

>

Medium

Q151:

'U' Shaped

Convex to Origin.

'L' Shaped.

Inverse 'U' Shaped.

Correct Answer

Option 4

Correct Answer

Explanation →

Q152:

13 May Shift 2

Micro

>

Medium

Q152:

Constant returns to scale.

Increasing returns to scale.

Decreasing returns to scale

Marginal returns to scale.

Correct Answer

Option 3

Correct Answer

Explanation →

Q153:

13 May Shift 2

Micro

>

Easy

Q153:

Indifference Curve.

Production Possibility Curve.

Isoquant.

Budget Line.

Correct Answer

Option 3

Correct Answer

Explanation →

Q154:

13 May Shift 2

Micro

>

Medium

Q154:

Law of variable proportions.

Marginal rate of substitution.

Increasing cost.

Marginal productivity.

Correct Answer

Option 1

Correct Answer

Explanation →

Q155:

13 May Shift 2

Micro

>

Easy

Q155:

Short run marginal cost.

Average fixed cost.

Short run average cost.

Average variable cost.

Correct Answer

Option 1

Correct Answer

Explanation →

Q156:

13 May Shift 2

Micro

>

Medium

Q156:

Price must be greater than the average cost

The price must be greater than the marginal cost.

Marginal cost must be deceasing at q₀.

Price must be greater than the average variable cost

Correct Answer

Option 4

Correct Answer

Explanation →

Q157:

13 May Shift 2

Micro

>

Easy

Q157:

Increasing return to sacle.

Decreasing return to scale.

Constant return to scale.

Diminishing marginal productivity.

Correct Answer

Option 3

Correct Answer

Explanation →

Q158:

13 May Shift 2

Micro

>

Easy

Q158:

Constant return to scale

Decreasing return to scale

Marginal rate of substitution.

Increasing return to scale

Correct Answer

Option 4

Correct Answer

Explanation →

Q159:

13 May Shift 2

Micro

>

Medium

Q159:

Marginal produvtivity.

Constant return to scale.

Decresing return to scale

Increasing return to scale.

Correct Answer

Option 4

Correct Answer

Explanation →

Q160:

13 May Shift 2

Micro

>

Medium

Q160:

Upward Slope

Minimum Point.

Mid-point in upward slope.

Downward Slope.

Correct Answer

Option 2

Correct Answer

Explanation →

Q161:

13 May Shift 2

Micro

>

Medium

Q161:

Increasing return to scale.

Decreasing return to scale.

Constant return to scale.

Proportinate return.

Correct Answer

Option 2

Correct Answer

Explanation →

Q162:

13 May Shift 1

Micro

>

Medium

Q162:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q163:

13 May Shift 1

Micro

>

Easy

Q163:

Shift to the right.

Shift to the left.

Remain at same place.

Shift in vertical shape.

Correct Answer

Option 1

Correct Answer

Explanation →

Q164:

13 May Shift 1

Micro

>

Easy

Q164:

At least one of the factor varied.

All factors of production can be varied.

Factor remains fixed.

Only one factor can vary.

Correct Answer

Option 2

Correct Answer

Explanation →

Q165:

13 May Shift 1

Micro

>

Medium

Q165:

Production Possibility Frontier

Isoquant Curve

Production Possibility Set

Isocost Line

Correct Answer

Option 3

Correct Answer

Explanation →

Q166:

13 May Shift 1

Micro

>

Easy

Q166:

At maximum point of average cost curve.

At minimum point from of average cost curve.

Do not intersect.

Intersect at mid point at rising average cost curve.

Correct Answer

Option 2

Correct Answer

Explanation →

Q167:

13 May Shift 1

Micro

>

Easy

Q167:

Break-even point.

Average Profit.

Long Run Average Cost.

Fixed Cost.

Correct Answer

Option 1

Correct Answer

Explanation →

Q168:

13 May Shift 1

Micro

>

Easy

Q168:

Marginal Product.

Average Product.

Total Product.

Returns to Scale.

Correct Answer

Option 1

Correct Answer

Explanation →

Q169:

13 May Shift 1

Micro

>

Medium

Q169:

Constant

'U' Shaped.

Rectangular Hyperbola

Reverse Hyperbola

Correct Answer

Option 3

Correct Answer

Explanation →

Q170:

13 May Shift 1

Micro

>

Medium

Q170:

$q = f(x_1, x_2)$

$f (tx_1, tx_2) = tf (x_1, x_2)$

$f (tx_1, tx_2) < tf (x_1, x_2)$

$f (tx_1, tx_2) > tf x_1, x_2)$

Correct Answer

Option 3

Correct Answer

Explanation →

Q171:

13 May Shift 1

Micro

>

Easy

Q171:

Average Cost

Variable Cost

Fixed Cost

Short Run Marginal Cost

Correct Answer

Option 4

Correct Answer

Explanation →

Q172:

13 May Shift 1

Micro

>

Medium

Q172:

(B), (C) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(A), (B) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q173:

13 May Shift 1

Micro

>

Easy

Q173:

Cost of Production

Input cost

Marginal Cost

Profit

Correct Answer

Option 4

Correct Answer

Explanation →

CUET Economics Micro > Production & Costs PYQs

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