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Exercise 3. Modify the above exercise (exercise 2) to have all the original parameters and cases (a-e) but now assume the b parameter is 1/2

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Exercise 3. Modify the above exercise (exercise 2) to have all the original parameters and cases (a-e) but now assume the b parameter is 1/2 (rather than 34) What happens to short-run output in cases a to e (as in a to e in exercise 2 above)? Compare with the earlier case when b. Why the differences

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