Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:

Match List-I with List-II

List-I

List-II

(A) Short run Marginal Cost (SMC)

(I) $ΔTC/Δq$

(B) Long run Average Cost (LRAC)

(II) $TVC/q$

(C) Average Variable Cost (AVC)

(III) $TC/q$

(D) Average fixed cost (AFC)

(IV) $TFC/q$

Choose the correct answer from the options given below:

Options:

(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:

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

Explanation:

The correct answer is Option (2) → (A)-(I), (B)-(III), (C)-(II), (D)-(IV)

List-I

List-II

(A) Short run Marginal Cost (SMC)

(I) $ΔTC/Δq$

(B) Long run Average Cost (LRAC)

(III) $TC/q$

(C) Average Variable Cost (AVC)

(II) $TVC/q$

(D) Average fixed cost (AFC)

(IV) $TFC/q$