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O Assume Cob-Douglas production Y = K (AL)-a, no population growth (n=0 and assume L=1), saving as a constant fractions of output, and no
O Assume Cob-Douglas production Y = K (AL)-a, no population growth (n=0 and assume L=1), saving as a constant fractions of output, and no depreciation of capital. Now assume that Aby such that labour becomes more effective as a by-product of the quantity in terms of A, K, and the parameters = produced. Derive equations for and GA K of the model.
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To derive the equations for the CobbDouglas production model with laboraugmenting technological progress we start with the following production functi...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
