Lecture 6 18

Lecture 6 18 - Y Y − = 1 Note also: x A K = Thus: α K AL...

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Setup – Capital Stock Assume that all the capital goods play an identical role in the production process: Thus: x x i = αα x AL
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Unformatted text preview: Y Y − = 1 Note also: x A K = Thus: α K AL A K AL Y Y Y − − = ⎟ ⎠ ⎞ ⎜ ⎝ ⎛ = 1 1 ) (...
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