Question: If the per worker production function is given by Y= k^1/3, the savings rate (s) is 6 percent and the depreciation rate is 24 percent,

If the per worker production function is given by Y= k^1/3, the savings rate (s) is 6 percent and the depreciation rate is 24 percent, then the steady state capital per worker is :

A. 8

B. 4

C. .125

D. 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!