CUET UG Economics — Micro previous year questions with solutions.
At a price of ₹8 per unit, the quantity supplied of a commodity is 200 units. If its price elasticity of supply is 1.5, if the price rises to ₹10 per unit, calculate the quantity supplied at the new price?
Match List-I with List-II | List-I | List-II | |---|---| | (A) Total Cost | (I) Change in total cost when an additional unit of output is produced. | | (B) Marginal Cost | (II) Vertical summation of Average Fixed Cost (AFC) and Average Variable Cost (AVC) curves. | | (C) Fixed Cost | (III) Explicit Costs + Implicit Costs. | | (D) Short period Average Cost (AC) Curve | (IV) Does not change with increase or decrease in output. | Choose the correct answer from the options given below:
In the context of perfect competition, which one of the following is not correct?
How much units of Good Y can the consumer consume if she spends her entire income on that good?
Which of the following are correct statements?
Match List-I with List-II :
When Elasticity of Demand Curve is 1 at every point on the Demand Curve, this curve is known as:
According to the Theory of Consumer Behaviour, $P_1X_1 + P_2X_2 ≤ M$ is called the Consumer's _____________
Choose the correct statements from the following:
Those goods which can be used together are called _______ goods .
Car and petrol are the example of _________ goods .
If the price of coffee increases then consumption of tea also increases it implies that tea and coffee are __________ .
Which statement is not related to Normative Economics?
The goods which can be used in place of each other are called ?
The demand for a good moves in opposite direction if change in the price of its __________ :
__________ gives rise to the problem of choice.
The indifference curve is :
All the points on Indifference curve represent :
A rational consumer is the one who has :
Which is an example of substitute good ?
If the budget line is tangent to an indifference curve at a point, absolute value of the MRS and the Budget line are __________ at that point.
"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to.
Elasticity of Demand is given by the formula.
Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7 per unit and elasticity of demand for the good is 0.5