Question
Given a Cobb-Douglas production function Y=A(K^0.25)(N^0.75) . If total factor productivity is growing at 3% and both labor and capital are growing at 3%. What
Given a Cobb-Douglas production function Y=A(K^0.25)(N^0.75) . If total factor productivity is growing at 3% and both labor and capital are growing at 3%. What is the growth rate of output?
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Price Theory and Applications
Authors: Steven Landsburg
9th edition
1285423526, 978-1285947877, 1285947878, 978-1285423524
