Question: Consider the Solow growth model in continuous time with the following per capita production function f (k) = k4 6k3 + 11k2 6k. (1) Which

Consider the Solow growth model in continuous time with the following per capita production function f (k) = k4 6k3 + 11k2 6k. (1) Which parts of Assumptions 1 and 2 does the underlying production function F (K, L) violate? (2) Show that with this production function, there exist three steady-state equilibria. (3) Prove that two of these steady-state equilibria are locally stable, while one of them is locally unstable. Can any of these steady-state equilibria be globally stable?

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