1. Assume a production function that takes a Cobb-Douglas form in capital K, labor L, and land C: Y = AegtKaLBCA Where A>0, g >0, (rate of technological progress, a>0, B>0, 1>0, and a+B+ 1=1. The amount of land C is fixed. Labor grows at the constant rate n>0, capital depreciates at rate 8>0, and the saving rate is exogenously given at the level of s. Define p = , the capital-output ratio. a. Write down the growth rate of capital stock (#) and output (#) as a function of p. b. Using the results from (a), write down the growth rate of the capital-output ratio as a function of p. c. Define steady-state as a situation in which p is constant, compute the steady-state value of p. d. Compute the steady-state growth rate of output. Is it positive