Cobb douglass production functiona what does it mean that, Ask an Expert

Economics

Cobb douglass production function,

a) What does it mean that marginal product of capital is decreasing? Show the marginal products are diminishing in the cobb-douglas case.

b) Determination of steady state capital per worker consider the steady state capital per worker k*, how is k* affected by the following? (a) Increase in savings rate (b) Increase in Technology (c) Increase in depreciation (d) Increase in population rate

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91421665

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