Question: need help with econ Consider the following variation: Y: = AtlLl AAHI = 5:4ch Lm+L = I; L; = if. There is only a. single

need help with econ

Consider the following variation: Y: = AtlLl AAHI = 5:4ch Lm+L = I; L\"; = if. There is only a. single difference: we've changed the exponent on A; in the production of the output good so that there is now a diminishing marginal product to ideas in that sector. (a) What is the growth rate of knowledge in this economy? (b) What is the growth rate of output per person in this economy? (c) Solve the model: state and solve the endogenous variables

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