A variation on the renter model

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A variation on the Renter model: Consider the following variation: There is only a single difference: we've changed tile exponent on production of the output good so that there is now n diminishing product to ideas in that sector. Provide an economic interpreted ion for each equation. What is the growth rate of knowledge in this economy? What is the growth rate of output per person in this economy? Solve for the level of output per person at each point in time.

Reference no: EM131236777

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