What is the per worker production function

Reference no: EM13189464

Suppose initially (period 0) the economy is endowed with $5 (billion) of capital stock and 10 (thousand) workers (let's ignore the units). We know that saving rate s is 0.15, population growth rate n is 0.01 and depreciation rate d is 0.09. Suppose that the production function takes the form:
Y =( K^0.3)*(N^0.7)

What is the per worker production function in terms of capital-worker ratio? Based on this information, calculate:

a) capital per worker and output per capita in period 1 and 2

b) capital per worker and output per capita in steady state

Reference no: EM13189464

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