Hi, please list out the formulas where necessary , graphs where necessary , if the question doesnt require it, its fine not have it but please do put it down if it helps you to explain .explain it and list out the formulas used with explanations of formulas,themeaning of the symbols. Please dont provide a poor answerThank you!

Given the formula that you found above for steady state income per capita, what is the implied relationship between income and the degree of competitiveness? Should governments always want to drive mark-ups to zero? Can you think of any reasons why mark-ups might actually be good for long run income growth? anything!