Use the following production function and parameters in the Solow growth model to answer Questions L$-$N:

$Y=9K^{\frac{1}{4}}(AL{)}^{\frac{3}{4}}$ Population growth rate is $2\%$; saving rate is $30\%$; depreciation rate is $7\%,$ and technological progress is $1\%.$ The growh rates of capital and labour are $6\mathrm{.}1\%$ and $3\mathrm{.}3\%$ respectively. Assume the Solow Residual $(R)$ is $0\mathrm{.}2\%.$

L$.$ A capital per effective labour of $80$ units will lic above the steady state capital per effective labour.

M$.$ The economy will hold too much capital stock if the saving rate is reduced to $0\mathrm{.}24.$

N $.$ The fraction of the overall growth that is attributable to the Solow residual is approximately $17\%.$