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Consider the Solow model presented in the lecture. Use the Cobb-Douglas pro- duction function Y = K (AL)-, 0 Consider the Solow model presented in
Consider the Solow model presented in the lecture. Use the Cobb-Douglas pro- duction function Y = K (AL)-, 0
Consider the Solow model presented in the lecture. Use the Cobb-Douglas pro- duction function Y K a (AL) 1 a < 1. Let K/ (AL) . (a) Show that the dynamic equation for Ice is ice (n (5 g) Ice. (b) Show that the steady state is S (1)
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