a) Suppose the depreciation rate, 8, decreases at time t = to. Graphically depict what happens...

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a) Suppose the depreciation rate, 8, decreases at time t = to. Graphically depict what happens to the following variables before to, at to and after to. i) The depreciation rate, 8. ii) Capital per effective unit of labour, k. iii) The growth rate of output per worker iv) The natural log of output per worker. b) Repeat exercise a) if instead of the depreciation rate decreasing, the production function f decreased: that is, for every value of k, f2(k) < f(k). a) Suppose the depreciation rate, 8, decreases at time t = to. Graphically depict what happens to the following variables before to, at to and after to. i) The depreciation rate, 8. ii) Capital per effective unit of labour, k. iii) The growth rate of output per worker iv) The natural log of output per worker. b) Repeat exercise a) if instead of the depreciation rate decreasing, the production function f decreased: that is, for every value of k, f2(k) < f(k).