Question: Please answer with explanation Suppose the production function in Poorland is given by: Y = A.K1/2L1/2 and the production function in Richland is given by:

Please answer with explanation

Please answer with explanation Suppose the production function in Poorland is given

Suppose the production function in Poorland is given by: Y = A.K1/2L1/2 and the production function in Richland is given by: Y = B.K1/3L 2/3 where Y = output, A and B = technological parameters, K = capital, L = labor. What are the golden rule savings rates in Richland and Poorland? Select one: O a. About 50% in Poorland and about 33% in Richland provided the depreciation rates are the same. O b. About 33% in Poorland and about 50% in Richland provided the depreciation rates are the same. O c. About 50% in Poorland and about 33% in Richland even if depreciation rates are different. O d. About 33% in Poorland and about 50% in Richland even if depreciation rates are different

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