1. Output per capita is described by the production function f(k) = Ak", where k denotes the capital-labor ratio. The saving rate is =0.4, the population growth rate is n=0.05, and the depreciation rate is d=0.1. Also, let A=1 and a=0.3, and assume that there is no TFP growth. What is the value of k in the steady-state equilibrium? Approximate your answer to three decimal points. 2. Using information from problem 1, what is the value of k in the steady-state equilibrium, if the saving rate falls to 0.35? Approximate your answer to three decimal points. 3. Using information from problem 1, what is the value of k in the steady-state equilibrium, if the population growth rate falls to 0.02? Approximate your answer to three decimal points