3. Assume that production fun ction takes the form Y = (K'o.5) + Ľ'a5)E, Show if this production function obeys neodassical assumptions. 4. Lets assume that the time derivative of a continuous variable Xa is defined as X= M+N where, M: and N are also continuous variables defined by following functions: N = ekt & M, = et and k is a constant. Find the growth rate of X at the ste ady state %3D in terms of k.

3. Assume that production fun ction takes the form Y = (K'o.5) + Ľ'a5)E, Show if this production function obeys neodassical assumptions. 4. Lets assume that the time derivative of a continuous variable Xa is defined as X= M+N where, M: and N are also continuous variables defined by following functions: N = ekt & M, = et and k is a constant. Find the growth rate of X at the ste ady state %3D in terms of k.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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