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12. Consider an economy without technological progress and population growth. The production function is given as Y = K2/ 31/3. Both the saving rate and
12. Consider an economy without technological progress and population growth. The production function is given as Y = K2/ 31/3. Both the saving rate and the capital depreciation rate are assumed to be 0.1. Which of the following saving rate delivers the highest consumption per worker in the steady-state: (a) 1/3 (b) 1/2 (c) 2/3 (d) none of above is correct
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