Consider an economy with a Cobb-Douglass production function Y = A1-«KªN1-a Where TFP, A, grows at a rate of g per year and population grows at a rate of п рer year. 1. Derive an expression for the production function per effective worker f(k) = Yt in terms of the ratio of capital per effective worker ki AtNt

Consider an economy with a Cobb-Douglass production function Y = A1-«KªN1-a Where TFP, A, grows at a rate of g per year and population grows at a rate of п рer year. 1. Derive an expression for the production function per effective worker f(k) = Yt in terms of the ratio of capital per effective worker ki AtNt

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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