Question 3 of 6 > An economy has a Cobb-Douglas production function: Y = K (LE)¹-a The economy has a capital share of 0.

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Question 3 Of 6 An Economy Has A Cobb Douglas Production Function Y K Le A The Economy Has A Capital Share Of 0 1 (39.17 KiB) Viewed 12 times

Question 3 of 6 > An economy has a Cobb-Douglas production function: Y = K (LE)¹-a The economy has a capital share of 0.35, a saving rate of 44 percent, a depreciation rate of 3.25 percent, a rate of population growth of 3.00 percent, and a rate of labor-augmenting technological change of 3.0 percent. It is in steady state. k" = Stacked b. Solve for capital per effective worker (k*), output per effective worker (y"), and the marginal product of capital. 11 E marginal product of capitali