Question: 32. Suppose the production function is given by Y = [(1/3 1.2/3 where Yis the amount of output, K is the amount of capital, and

32. Suppose the production function is given by Y = [(1/3 1.2/3 where Yis the amount of output, K is the amount of capital, and N is the number of workers. Suppose further that there are no technological progress and population growth. What is the steady-state output per worker given the saving rate is 0.2 and the deprecation rate is 0.05? a. 2 b. 4 c. 8 d. 12 c. All the answers listed here are incorrect

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