YIN CNNext questionSuppose that the production function is given byY- 05VR N454where Y is output, Kis capital, and N is the number of workers4Suppose that 60 05 With your favonte spreadsheet software, computesteady-state output per worker and steady-state consumption per worker for s0, 801, a02, s1Graph the steady-state level of output per worker and the steady-state level ofconsumption per worker as a function of the saving rate251) Using the multipoint curve drawing tool, drawa curve showing therelationship between YIN and the saving rate. Properly label your curve152) Using the multipoint curve drawing tool, draw a curve showing therelationship between CIN and the saving rate. Properly label your curve0.5Although the control ponts for your multpownt curves do not have to be exacttry to plot them as accurately as possible01 02 03 a'4 os o6 07 os 09Saving rate,At what saving rates are YIN and CIN maximized?After plotting the final point of your multipoint curvepress the Esc' key on your keyboard to end the ine.YIN is maximized at a saving rate ofO A. 0.5, and CIN is maximized at a saving rate of 1.O B. 1, and C/IN is maximized at a saving rate of 1.OC. 05, and CIN is maximized at a saving rate of 05.

Given production function Y=0.5K*N δ=0.05s=0s=0.1s=0.2s=1

YN CN Next question Suppose that the production function is given by 0 5VR N. where Y is output Kis capital and Nis the number of workers Suppose that &0.05 With your favorite spreadsheet software, compute steady-state output per worker and steady state consumption per worker for s 0 s01, 02. 35 Graph the steady-state level of output per worker and the steady-state level of consumption per worker as a function of the saving rate 25 24 1) Using the multipoint curve drawing tool, drawa curve showing the relationship between YIN and the saving rate. Properly label your curve 2) Using the multpoint curve drawing tool, draw a curve showing the relationship between CIN and the saving rate. Properly label your curve 15 05 Although the control ponts for your multipont curves do not have to be exact try to plot them as accurately as possible 6 01 02 03 04 Savn At what saving rates are YIN and CIN maximized? After plotting the final po press the Esc'key on yo YIN is maximized at a saving rate of O A. 0.5, and CIN is maximized at a saving rate of 1. OB. 1, and CIN is maximized at a saving rate of 1. OC. 05, and CIN is maximized at a saving rate of 0 5

YN CN Next question Suppose that the production function is given by 0 5VR N. where Y is output Kis capital and Nis the number of workers Suppose that &0.05 With your favorite spreadsheet software, compute steady-state output per worker and steady state consumption per worker for s 0 s01, 02. 35 Graph the steady-state level of output per worker and the steady-state level of consumption per worker as a function of the saving rate 25 24 1) Using the multipoint curve drawing tool, drawa curve showing the relationship between YIN and the saving rate. Properly label your curve 2) Using the multpoint curve drawing tool, draw a curve showing the relationship between CIN and the saving rate. Properly label your curve 15 05 Although the control ponts for your multipont curves do not have to be exact try to plot them as accurately as possible 6 01 02 03 04 Savn At what saving rates are YIN and CIN maximized? After plotting the final po press the Esc'key on yo YIN is maximized at a saving rate of O A. 0.5, and CIN is maximized at a saving rate of 1. OB. 1, and CIN is maximized at a saving rate of 1. OC. 05, and CIN is maximized at a saving rate of 0 5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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