Calculate steady-state level of consumption per unit labor

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If the production function is given by yt = log(k_t), n = 0:05, and d = 0:1, and savings is a fixed fraction of output, calculate the steady-state level of consumption per unit of labor. Plot the steady-state level of consumption per unit of labor as a function of s. Show that it is maximized when 1 k = 0:15.

Reference no: EM131203954

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