If we consider the following endogenous growth model, where a representative household's life-time utility function is given as:

\fH(t) = BHE(t) 6H(t), Where H E(t) is human capital devoted to education. In total we have H E(t) + H 1305) = H (t) Denote the fraction of human capital allocated to production by (Mt). Please go as far as you can to characterize the balanced growth path of the economy. \f