The production function yk5 an5 where both the population


The production function. Y=K^5 (AN)^.5 , where both the population and the pool of labor are growing by rate n=.07, the capital stock is depreciating at a rate of d= .03, and A is normalized to 1.

A. What are the capitals and labor's shares of income?

B. What is the form of this production function?

 

C. Find the steady state values of k and y when s=.20

Request for Solution File

Ask an Expert for Answer!!
Business Economics: The production function yk5 an5 where both the population
Reference No:- TGS01118410

Expected delivery within 24 Hours