Derive and compute steady-state value of output per worker

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Indonesia’s production function is Y = AKαL1-α. Assume that A (technology) = 1 and α = .33. Additionally, Indonesia’s investment/savings rate is 10%. Indonesia has 50 units of capital per worker and a constant depreciation rate of 3%. Assume that Indonesia has a constant population growth rate of 1%

Derive and compute the steady-state value of output per worker for Indonesia.

Reference no: EM131241717

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