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Describe how, if at all, each of the following developments affects the breakeven and actual investment lines in our basic diagram for the Solow mOClEl:
Describe how, if at all, each of the following developments affects the breakeven and actual investment lines in our basic diagram for the Solow mOClEl: _"''--_____... _________.__"" (a) The rate of depreciation falls. , \\_.~_____J (b) The rate of technological progress rises. (c) The production function is CobbDouglas, f0?) = fro", and capital's share, a- rises. ""'" -"__-I (d) Workers exert more effort, so that output er unit of effective labor for a given value of capital-Mr unit of effective labor is lg er than before. ______-'_'I g
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