Find the elasticity of output per unit of effective labor on the balanced growth path y*...

 

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Find the elasticity of output per unit of effective labor on the balanced growth path y* with respect of rate of population growth, n if production function is given as Y(t) = K(t)0.3 (A(t)L(t))0.7 Assume that the growth rate of effectiveness of labor, g, is equal to 8% and depreciation rate of 4%. By about how much does a fall in n from 2% to 1% raise y* Find the elasticity of output per unit of effective labor on the balanced growth path y* with respect of rate of population growth, n if production function is given as Y(t) = K(t)0.3 (A(t)L(t))0.7 Assume that the growth rate of effectiveness of labor, g, is equal to 8% and depreciation rate of 4%. By about how much does a fall in n from 2% to 1% raise y*