What is the steady-state value of consumption per worker?.
A country has the per-worker production function y=5k^1/2 where y is the output per worker and Show more A country has the per-worker production function y=5k^1/2 where y is the output per worker and k is the capital- labor ratio. The depreciation rate is 0.15 and the population growth rate is 0.05. The saving function s=0.2Y where s is total national saving and Y is the total output. a. what is the steady-state value of capital-labor ratio? b what is the steady-state value of output per worker? c. What is the steady-state value of consumption per worker?Type your question here Show less
What is the steady-state value of consumption per worker?
