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please help me on this one thanks 1. Consider the economy of Avataria, which can be described by the Solow model. Avataria has the depreciation

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please help me on this one thanks

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1. Consider the economy of Avataria, which can be described by the Solow model. Avataria has the depreciation rate of 8% and the production function mm = warm\"- Part 1. (55 points) The steady-state equilibrium in the Solow Model (a) (10 points). Prove that the production function in Avataria exhibits the constant return to scale property. (b) (15 points). Assume that Avataria has the investment rate of 16%. Calculate the steady-state capital-labor ratio, output per worker, and consumption per worker. Also, what is the growth rate of the total output in Avataria in the steady state? (c) (15 points). Now assume that Avataria has the new investment rate, which increases its steady state output per worker by 50%. Calculate this new investment rate. (d) (15 points). Finally, assume that Avataria has the old investment rate of 16% but now its producers rely on capital relatively more so that the production mction is Y(K,L) = lemma)\". How does this change affect output per capita in steady state compared to part (1))? Calculate its exact value. Part 2. (45 points) Multiple equilibria in the Solow Model Consider again the economy of Avataria, which can be described by the Solow model. Avataria has the old depreciation rate of 8% and the production function as in part (d), mm.) = laminar\

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