Marginal product of capital is decreasing

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Cobb douglass production function,

a) What does it mean that marginal product of capital is decreasing? Show the marginal products are diminishing in the cobb-douglas case.

b) Determination of steady state capital per worker consider the steady state capital per worker k*, how is k* affected by the following? (a) Increase in savings rate (b) Increase in Technology (c) Increase in depreciation (d) Increase in population rate

Reference no: EM13851895

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