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Questions › Microeconomics › Costs of production

Costs of production: previous year questions

Asked 6 times in 2 exams across 3 years. Newest first.

Practise Costs of production, easy to hard →

  1. GATE 2023 Q45A firm in a market with perfect competition has the following total cost (TC) function: TC(Q) = a + b(Q) where Q is the quantity produced by the…
  2. GATE 2023 Q59Consider the following short-run cost function: C(q) = 10q³-80q²+300q+50 At the minimum average variable cost (AVC), the value of marginal cost (MC)…
  3. IIT JAM 2022 Q10A long-run cost function for a product exhibits economies of scale if
  4. IIT JAM 2022 Q30The short-run production function is Q = 200 + 0.2L² - 0.0004L³. If the wage rate is Rs. 140 and labour L = 100, then the Marginal Cost and Average…
  5. IIT JAM 2022 Q45The Total Variable Cost is TVC = x³ - bx² and the Total Fixed Cost is 848. The value of b for which Marginal Cost is minimum at x = 16 is _ (in…
  6. GATE 2021 Q3For the production function Q=F(K,L)=√KL with P_K=4 and P_L=2, find the values of K and L that will minimize the cost of producing 2 units of output.