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Imagine an economy with two people: a worker and a capitalist. The worker supplies L units of labor and saves fraction sw of its labor
Imagine an economy with two people: a worker and a capitalist. The worker supplies L units of labor and saves fraction sw of its labor income and fraction sc of its capital income. The capitalist does not work and saves fraction sc of its income. Production in this economy occurs via the production function
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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
