Marginal products are diminishing in the cobb-douglas case

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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: EM13860133

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