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Assume that in the neoclassical growth model the production function is of Cobb- Douglas form: Take s = 0.1 and n = 0.025 per year.

Assume that in the neoclassical growth model the production function is of Cobb-

Douglas form:

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Take s = 0.1 and n = 0.025 per year. Find the steady-state paths of Y and K. Generalize the results for the Cobb-Douglas form

image text in transcribed

Y=KL Y=KL1 Y=KL Y=KL1

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