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Lecture 7

Now transform the production function into per-worker terms. Show every step of your work. The second question for you is this. Is there a rate of extraction such that there exists a (positive) steady-state output-labor ratio? Provide an explicit and precise proof for your answer, making use of the per-worker production function you have derived together with the other information you have at hand

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Adam Renfro
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78 views

Lecture 7

Now transform the production function into per-worker terms. Show every step of your work. The second question for you is this. Is there a rate of extraction such that there exists a (positive) steady-state output-labor ratio? Provide an explicit and precise proof for your answer, making use of the per-worker production function you have derived together with the other information you have at hand

Uploaded by

Adam Renfro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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