If the economy decides to achieve the golden rule level of, Ask an Expert

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Q. a. Illustrate what is the marginal product of capital in this situation? (Hint: The marginal product of capital may be Compute d using calculus by differentiating the production function also using the capital-o/p ratio or by using the fact which capital's share equals MPK multiplied by K divided by Y.)

b. If the economy is in a steady state, illustrate what must be the saving rate? (Hint: The saving rate multiplied by Y must provide for gross growth of (^TM + n + g)K, where ^TM is the depreciation rate.)

c. If the economy decides to achieve the Golden Rule level of capital also actually reaches it, illustrate what will be the marginal product of capital?

d. Illustrate what must

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Business Economics, Economics

Category:- Business Economics
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