Exercise 9.7. Consider the canonical model with log preferences, log (c1 (t)) + log (c2 (t)),
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Exercise 9.7. Consider the canonical model with log preferences, log (c1 (t)) + β log (c2 (t)), and the general neoclassical technology F (K, L) satisfying Assumptions 1 and 2. Show that multiple steady-state equilibria are possible in this economy.
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