Production function, Consumption per capita as a function

Production function

Reference no: EM1357999

Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of ? and s. c. Output per capita as a function of ? and s. d. Consumption per capita as a function of ? and s. e. Golden Rule consumption if ? = 10%. (Hint: Find the s that maximizes consumption)

Reference no: EM1357999

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