Question: Consider Solow growth model provided with an aggregate production given as Y = K1/3L2/3, with population growth rate of 2% , technological advancement rate

Consider Solow growth model provided with an aggregate production given as Y

Consider Solow growth model provided with an aggregate production given as Y = K1/3L2/3, with population growth rate of 2% , technological advancement rate of 1 % and depreciation rate given as 2% . Also it is provided that marginal propensity to consume in the economy is 0.8. ? What is the long run equilibrium level of output/labor ? 1.99 st

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