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The production function of the Solow Model is given as, Y = F (K, L) where Y = national income, K=capital and L=labor, steady state
The production function of the Solow Model is given as, Y = F (K, L) where Y = national income, K=capital and L=labor, "steady state" condition,
Give the production function that has considered technology.
a. What is the new capital accumulation equation?
b. Show the steady state with technology graphically.
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