CUET UG Economics — Micro previous year questions with solutions.
The total revenue of a firm is increasing at a constant rate. Which of the following is true about this firm?
Match List-I with List-II | List-I | List-II | |---|---| | (A) Decrease in consumer's income | (I) Budget line becomes steeper | | (B) Increase in price of Good X | (II) Parallel and leftward shift in the budget line | | (C) Equal reduction in price of both goods X and Y | (III) Budget line becomes flatter | | (D) Increase in price of Good Y | (IV) No change in the slope of the budget line | Choose the correct answer from the options given below:
Imposition of price ceilings usually results into?
Suppose the market determined rent for apartments is \$200 per month. The government intervenes and sets the rent control at $250 per month. What is the likely impact of this intervention on market of apartments?
The market determined price of a good is Rs. 40.The government determines the price ceiling on the good as Rs. 25. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd= 200 – p and Qs=120+ p respectively.
In order to be effective, the price ceiling should be determined _______.
Marginal cost curve intersects average cost curve at ..........
The relation between the consumer's optimal choice of the quantity of a good and its price is called ?
What will be the shape of unitary elastic supply curve?
According to the law of variable proportions. Which among the the following option is correct?
The book 'An Enquiry into the Nature and Cause of the Wealth of Nations' was published in which of the following year.
Which of the following are features of the perfect competition market? (A) Price taking behavior of firms. (B) Restriction on entry and exit of firms. (C) Large number of sellers and buyers. (D) Asymmetric Information. Choose the correct answer from the options given below:
Positive Economics deals with_______________
A rational consumer reaches to equilibrium when:
Stages of production are the consequences of:
What will be the average variable cost (AVC) for producing 200 vases?
What is the main purpose of Cost Reduction Technologies in business?
At the market price of Rs 10, a firm supplies 200 units of a good. If the market price increases to Rs 30, and the price elasticity of the firm's supply is 2. Then at new price what quantity will be supplied by the firm?
Identify the incorrect statement about the relation between Marginal Product(MP) and Average Product (AP).
Price ceilings are also known as............
In perfectly competitive market, the demand curve of a firm is?
The total sum that the consumer has to spend on wheat in 2022?
What is Consumer Price Index?
In a situation when MRSxy > Px / Py, the consumer would react by: