suppose the production formula is given by yt= kt ^1/3 where y is the output per worker and k is the capital per worker. futhermore assume that the saving rate is exogenous and the capital deprecitates at delta rate. if the sum of both deprectiation rate and saving rate equals 1, answer the questions below  1. find the steady state values of capital, output, investments and consumption as functions of the saving rate only?  2. in a diagram show the steady state value values in a part (a)?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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suppose the production formula is given by yt= kt ^1/3 where y is the output per worker and k is the capital per worker. futhermore assume that the saving rate is exogenous and the capital deprecitates at delta rate. if the sum of both deprectiation rate and saving rate equals 1, answer the questions below 

1. find the steady state values of capital, output, investments and consumption as functions of the saving rate only? 

2. in a diagram show the steady state value values in a part (a)? 

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