2 Fundamental Equation of the Solow-Swan Model Consider the Solow-Swan model of growth. Imagine that the production function is Y = AKall-a (a) Use the production function to express output per capita, y = Y/L, as a function of capital per capita, k = K/L. (b) Derive the fundamental equation of the Solow-Swan model to express the growth rate of capital per capita (dk/k) as a function of k. (c ) Visualize the fundamental equation of the Solow-Swan model on the plane whose horizontal axis is the level of capital (k) and vertical axis is its growth rate (dk/k). Indicate the savings curve, the depreciation curve, and the steady state. (d) Imagine that the savings, technology, depreciation, and population growth take the values a = 0.5, A = 1, s = 0.25, 6 = 0.08, and n = 0.02. Using the parameter values, find the steady-state level of the capital stock, k*