Question: 3. (Solow Model) Suppose you have a production function: 11 = rumba) = 10K}; in? In our economy, the output can be used for one

3. (Solow Model) Suppose you have a production function: 11 = rumba) = 10K}; in\"? In our economy, the output can be used for one of two purposes, consumption or invest- ment: Yr = Ct + It Capital accumulation is: Kt+1 = Kt + It - 117K: (a) Derive the Solow model, and draw a graph (Yaxis: Outputm, X-axis: Capital(K}) (b) What is steady state K\" ? (c) Suppose there is not population growth (L1H = L, = L), What is "per person" version of Solow model? (d) Suppose there was a war, so technology dropped from 10 to 5. (ie, T, F(A,K,L) = 5K3'2L3\"). What is the new steady' state capital(K*)? Can you drawagraph

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