The production function is y fkan with a 2kn so y 2k. if, Ask an Expert

Economics

Assume an endogenous growth model with labor augmenting technology. The production function is Y = F(K,AN) with A = 2(K/N), so y = 2k. If the savings rate is s = 0.05 and there is neither population growth nor depreciation of capital, what is the growth rate of output?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M940347

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