Consider a simple Cobb-Douglas economy with competition, constant returns to scale, and capital and labor as its

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Consider a simple Cobb-Douglas economy with competition, constant returns to scale, and capital and labor as its only factor inputs.An increase in the output elasticity of capital makes income per capita ___ sensitive to a change in the capital-labor ratio.

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Posted Date: Jun 23, 2024 09:01 AM

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Consider a simple Cobb-Douglas economy with competition, constant returns to scale, and capital and labor as its

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