JAM 2023 Economics Question Papers & Answer Keys PDF
Section A: Q.1 – Q.10 Carry ONE mark each.
A competitive firm can sell any output at price P = 1. Production depends on capital alone, and the production function y = f(K) is twice continuously differentiable, with
The firm has positive capital stock K̅ to start with, and can buy and sell capital at price r per unit of capital. If the firm is maximizing profit then which of the following statements is NOT CORRECT?