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QUESTION 30 If the production function is given by Y=ĀK,1/3[2/3. the saving rate, S, is 20 percent; the depreciation rate, d is 10 percent; and A =L = 1 the steady-state level of output is O A. 2.0 В. 8.0 ОС. 3.5 O D. 1.4

QUESTION 30 If the production function is given by Y=ĀK,1/3[2/3. the saving rate, S, is 20 percent; the depreciation rate, d is 10 percent; and A =L = 1 the steady-state level of output is O A. 2.0 В. 8.0 ОС. 3.5 O D. 1.4

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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**Question 30** If the production function is given by \( Y = \bar{A} \bar{K}_t^{1/3} \bar{L}^{2/3} \), the saving rate, \( S \), is 20 percent; the depreciation rate, \( \bar{d} \), is 10 percent; and \( \bar{A} = \bar{L} = 1 \), the steady-state level of output is - A. 2.0 - B. 8.0 - C. 3.5 - D. 1.4 This question involves evaluating a production function where certain economic parameters are provided, and you need to determine the steady-state level of output based on these inputs.
Transcribed Image Text:**Question 30** If the production function is given by \( Y = \bar{A} \bar{K}_t^{1/3} \bar{L}^{2/3} \), the saving rate, \( S \), is 20 percent; the depreciation rate, \( \bar{d} \), is 10 percent; and \( \bar{A} = \bar{L} = 1 \), the steady-state level of output is - A. 2.0 - B. 8.0 - C. 3.5 - D. 1.4 This question involves evaluating a production function where certain economic parameters are provided, and you need to determine the steady-state level of output based on these inputs.
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