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Y = AK[1-Q R W = (1 -Q) AKL- 1 R/P L = Ity N - 4 WP K Y = CSuppose that A decreases.

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Y = AK[1-Q R W = (1 -Q) AKL- 1 R/P L = Ity N - 4 WP K Y = CSuppose that A decreases. Construct a pair of well-labeled diagrams of equilibrium in the factor markets to show how the change in A affects the supply of capital, the supply of labor, the real wage, and the real rental rate. Write down either in words or symbolically how the change in A would affect output Y and consumption C

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