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If an economy has production function Y= K 0.3 L 0.7 , Assuming that the depreciation rate is 10%/year, show using a table, the steady-state
If an economy has production function Y= K0.3L0.7,
Assuming that the depreciation rate is 10%/year, show using a table, the steady-state capital per worker, output per worker, consumption per worker, and marginal product of capital net of depreciation for saving rates of 0 percent, 10 percent, 20 percent, 30 percent, and so on. (round answers to 4 decimal places)
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