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Suppose an economy has aggregate production function equal to Y = K^1/2 L^1/2. Population growth, n, is 2% per year, 3% of the capital stock depreciates every year and the savings rate, s, is 10% of total output. Find the steady state values of capital per worker, output per worker and consumption per worker.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91952088

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