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let an economy be represented by the production function Y=AK1/2L1/2where Y is output, K is physical capital and L is labor. a. As capital increases,

let an economy be represented by the production function Y=AK1/2L1/2where Y is output, K is physical capital and L is labor.

a. As capital increases, the marginal product of capital. (Say "increases", "decreases," or "is constant.")

b. If A=4, K=100 and L=25 then Y=

c. Let's say part b is period 1.Also, let the savings rate be 1/2 and the depreciation rate be 1/4.In period 2, capital will be blank and output will be blank . (Capital is an integer.Round output to one decimal place. You will probably need a calculator......)

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