20) Suppose that the production function is y =k0.25[that is, output per worker is equal to the (1/4th)root of capital per worker], s = 0.36, and lowercasedelta (5)[the depreciation rate] = 0.10 and thepopulation growth is 2 percent (n = 0.02). What is(approximately) the per capita steady state%3Dconsumption in this economy?Select one:а. 5004b. 1.45С. 302d. 0.92

As it is given to us that y=k0.25 S=0.06 n=0.02

20) Suppose that the production function is y = k0.25[that is, output per worker is equal to the (1/4th) oot of capital per worker], s = 0.36, and lowercase delta (õ)[the depreciation rate] = 0.10 and the %3D population growth is 2 percent (n = 0.02). What is approximately) the per capita steady state consumption in this economy? Select one: a. 5004 p. 1.45 C. 302 d. 0.92

20) Suppose that the production function is y = k0.25[that is, output per worker is equal to the (1/4th) oot of capital per worker], s = 0.36, and lowercase delta (õ)[the depreciation rate] = 0.10 and the %3D population growth is 2 percent (n = 0.02). What is approximately) the per capita steady state consumption in this economy? Select one: a. 5004 p. 1.45 C. 302 d. 0.92

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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