Exercise 11.6. Consider the neoclassical growth model with Cobb-Douglas technology y (t) = Ak (t) (expressed

Exercise 11.6. Consider the neoclassical growth model with Cobb-Douglas technology y (t) = Ak (t) α (expressed in per capita terms) and log preferences. Characterize the equilibrium path of this economy and show that as α → 1, equilibrium path approaches that of the baseline AK economy. Interpret this result.