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15. (6 points) Draw an economy (with diminishing returns to embodied inputs) in steady state on a graph with K/N on the horizontal and (Y/N,
15. (6 points) Draw an economy (with diminishing returns to embodied inputs) in steady state on a graph with K/N on the horizontal and (Y/N, I/N) on the vertical. Label this point A. Show the long run effect of a reduction in the depreciation rate. Label this point B
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