3. Assume that production fun ction takes the form Y = (K'o.5) + Ľ'a5)E, Show if this production function obeys neodassical assumptions. 4. Lets assume that the time derivative of a continuous variable Xa is defined as X= M+N where, M: and N are also continuous variables defined by following functions: N = ekt & M, = et and k is a constant. Find the growth rate of X at the ste ady state %3D in terms of k.
3. Assume that production fun ction takes the form Y = (K'o.5) + Ľ'a5)E, Show if this production function obeys neodassical assumptions. 4. Lets assume that the time derivative of a continuous variable Xa is defined as X= M+N where, M: and N are also continuous variables defined by following functions: N = ekt & M, = et and k is a constant. Find the growth rate of X at the ste ady state %3D in terms of k.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![3. Assume that production fun ction takes the form Y = (Ko.5) + L'as)e, Show if
%3D
this production function obeys neoclassical assumptions.
4. Lets assume that the time derivative of a continuous variable Xa is defined as
X = M+ N
where, M. and N are also contimuous variables defined by follow ing fun ctions:
N = ek+ & M, = et and k is a constant Find the grow th rate of X, at the steadystate
in terms of k.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fddce38ff-fdf9-4066-bc6a-6d41153af049%2F90a7d2be-deb9-471a-b95f-2267691a0018%2Fuc2zzut_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. Assume that production fun ction takes the form Y = (Ko.5) + L'as)e, Show if
%3D
this production function obeys neoclassical assumptions.
4. Lets assume that the time derivative of a continuous variable Xa is defined as
X = M+ N
where, M. and N are also contimuous variables defined by follow ing fun ctions:
N = ek+ & M, = et and k is a constant Find the grow th rate of X, at the steadystate
in terms of k.
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