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Could you explain how to approach this problem? Thank you! For part (d), the model of production in Chapter 4 is Y = A K^(1/3)

Could you explain how to approach this problem? Thank you!

For part (d), the model of production in Chapter 4 is Y = A K^(1/3) L^(2/3).

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Question 2 Consider a basic Solow model with a production function Y} = 141K]? LE. Answer the following questions. (a) What are the values of wages and rental prices of capital in the long run? Are they in the steady state? (b) Rewrite the basic Solow model in per capita terms. (c) Use your results in part (b), analyze the immediate impact and the long-run impact of immigrants on wages. (Hint: capital per person drops if many workers move in.) (d) In the model of production in Chapter 4, what is the impact of immigrants on wages? (e) Do you get the same answer in part (c) and part (d)? Briey discuss the reasons

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