CUET UG Economics — Micro previous year questions with solutions.
suppose an individual with same working condition got three alternative job in his hand he has selected the best and need to forgone the next best alternative. Identify the indicated cost in the aforesaid statement.
Match List-I with List-II | List-I | List-II | |---|---| | (A) TVC | (I) AVC × quantity | | (B) SAC | (II) AVC + AFC | | (C) TC | (III) TVC + TFC | | (D) LRMC | (IV) (TC at q₁ units) – (TC at q₁ – ₁ units) | Choose the correct answer from the options given below:
Marginal product (MP) and the average product (AP) curves are inverse 'U'-shaped. which of the following is correct for AP and MP.
The government-imposed lower limit on the price that may be charged for a particular good or service. What this lower limit is called ?
Given the production function $f(tx_1, tx_2) > tf (x_1, x_2)$, what it exhibit:
Arrange the following in correct sequence, to correct the problem of mismatch between supply and demand forces: (A) There is excess demand in the market. (B) All other things remain the same as price rises, quantity demanded falls and quantity supplied increases. (C) Some consumers who are either unable to obtain the commodity at all or obtain it in insufficient quantity will be willing to pay more than the prevailing prices. (D) The market moves towards the point where the quantity that the firms want to sell is equal to the quantity that the consumers want to buy. Choose the correct answer from the options given below:
The total cost of a firm is Rs 80 for 3 units of output, Rs 95 for 4 units of output, and Rs. 115 for 5 units of output. What is the marginal cost for the 5th unit of output?
The optimum bundle of the consumer is located at the point where:
The rate at which the consumer is able to substitute one good for the other in the market is indicated by
Which of the following indicates the slope of Budget Line?
Which goods are represented by a straight line Indifference Curve?
The rate at which the consumer is willing to substitute one good for the other is indicated by:
Which of the following central problems deals with the choice of technique of production?
Which of the following are correct about the short run cost concepts? (A) Both the average cost and average variable cost curves are U-shaped. (B) Average cost and average variable cost curves are parallel to each other. (C) Marginal cost is equal to both average cost and average variable costs at their respective minimum levels. (D) Average cost and average variable cost can never be equal to each other. Choose the correct answer from the options given below:
Anand consumes lesser units of good X when its price falls but more units of X when his income rises. Which of the following statements is true about good X.
If the average fixed cost of production is the fixed cost per unit of output produced. Then it will _______.
A profit-maximizing firm will attain its equilibrium at that level of output where?
Lata likes to eat burgers and has already eaten two. Her marginal utility from the last burger she consumes is 90 utils. If the price of burger is Rs. 25 per unit and marginal utility of a rupee is 3 utils, then?
Delhi has become the most polluted city in India. Due to this, how will the production possibility curve of Delhi be affected?
In a particular country, there was a severe heatwave. Arrange the following in the sequence of order in context of the market of ice-creams. (A) Rise in the price of ice cream. (B) Supply will remain the same. (C) Competition among the buyers of ice cream inceaseees. (D) The demand for ice cream increases. Choose the correct answer from the options given below:
A consumer spends all his income of Rs 6000 on two goods - Food and clothing and is buying 12 units each of both the goods. At the present level of consumption, the marginal rate of substitution of clothing for food is 3. The price of food per unit is Rs. 400 whereas that of clothing is Rs. 100. What should a consumer do to attain the equilibrium?
A firm is operating in a market where it can sell more only by lowering the price of the good. Arrange the changes in total revenue of this firm in a sequential order. (A) Total revenue falls. (B) Total revenue starts from origin. (C) Total revenue increases at a diminishing rate. (D) Total revenue reaches its maximum. Choose the correct answer from the options given below:
Match List-I with List-II | List-I | List-II | |---|---| | (A) Increase in demand > Increase in Supply | (I) Increase in both equilibrium price and quantity. | | (B) Increase in demand < Increase in Supply | (II) Decrease in both equilibrium price and quantity. | | (C) Increase in demand = Increase in Supply | (III) Decrease in equilibrium price but increase in equilibrium quantity. | | (D) Decrease in demand < Decrease in supply | (IV) Increase in equilibrium quantity but no change in equilibrium price. | Choose the correct answer from the options given below:
Match List-I with List-II | List-I | List-II | |---|---| | (A) Marginal rate of substitution | (I) Slope of Budget line | | (B) MUₓ/MUᵧ=Pₓ/Pᵧ | (II) more of at least one good and no less of the other good | | (C) -(Pₓ/Pᵧ) | (III) Law of equi marginal utility | | (D)Monotonic Preferences. | (IV) Slope of Indifference curve | Choose the correct answer from the options given below: