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Convert the Cobb-Douglas Production Y=AˉKaL1−aY = \bar { A } K ^ { a } L ^ { 1 - a }

Question 76

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Convert the Cobb-Douglas production Y=AˉKaL1−aY = \bar { A } K ^ { a } L ^ { 1 - a }
into per capita terms. Why might we be more concerned about per capita output rather than total output when discussing the welfare impacts of economic growth?

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We begin by dividing both sides of the e...

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