question archive Show that the production function exhibits constant returns to scale [you can always use the factor 2 = 2 for similar questions like this for this class]
Show that the production function exhibits constant returns to scale [you can always use the factor 2 = 2 for similar questions like this for this class]
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Show that the production function exhibits constant returns to scale [you can always use the factor 2 = 2 for similar questions like this for this class]. Also show that the production function exhibits diminishing marginal product of capital. Determine a function that determines output per worker (Y/L) in terms of capital per worker (K/L). Determine the steady-state level of capital per worker, ki, given the savings rate and depreciation rate above. Draw a Solow Growth diagram that illustrates this part (and the next part). Suppose that your initial level of capital per worker is 1.51 = 36. Determine on a per worker basis: consumption, investment, and output at [$1 = 36. Then calculate numerical value for capital per worker in the next period, #52. Illustrate this in your diagram from the previous part. Draw the time path for each of the following variables: 1,", a, 4L.
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