Assume the economy has a cobb-douglas production and is in, Ask an Expert

Economics

An economy has a capital out ratio of 2, a deprecitation rate of 8%, a savings rate of 30%, and a population growth rate of 2%. Capital income is about 35% percent of output. Assume the economy has a Cobb-Douglas production and is in a steady state.

1) Calculate the technology growth rate for this economy

2) What is a the marginal product of capital for this economy

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9445465

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