Question: Help me solve the following questions correctly.,,, 5. Consider a Solow growth model with population growth rate n > 0. Assume the technology growth rate

Help me solve the following questions correctly.,,,

model with population growth rate n > 0. Assume the technology growth

rate is 0. Let k*(s) be the steady-state capital-labor ratio given savings

rate s. (a) Show that the steady-state capital-labor ratio k*(s) is increasing

5. Consider a Solow growth model with population growth rate n > 0. Assume the technology growth rate is 0. Let k*(s) be the steady-state capital-labor ratio given savings rate s. (a) Show that the steady-state capital-labor ratio k*(s) is increasing in the savings rate s. (b) Express the steady-state per-capita consumption c* as a function of savings rate s. (c) Using the function above, express the condition for the savings rate s* that maximizes the steady-state per-capita consumption (i.e., what condition(s) would s* have to satisfy?). (Such a savings rate is called the golden-rule savings rate.) (d) Assume Cobb Douglas production function F(K, L) = Koll- where 0

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