Write each production function given below in terms of output per person y Y/L and capital

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Write each production function given below in terms of output per person y ≡ Y/L and capital per person k ≡ K/L. Show what these “per person” versions look like in a graph with k on the horizontal axis and y on the vertical axis. (Assume Ā is some fixed positive number.)
(a) Y = K1/3L2/3 and Y = K3/4L1/4 (on the same graph)
(b) Y = K
(c) Y = K + ĀL
(d) Y = K - ĀL
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Macroeconomics

ISBN: 978-0393923902

3rd edition

Authors: Charles I. Jones

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