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  • 06-06-2023
  • Business
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Question 13 2 pts Total production in Victoria is described by the production function Y₁ = A₂ (K₂)a (Lt)¹-a, where A is total factor productivity, L, is labour, and Ke is capital. Let A be constant, and a = = 0.5. Assuming that the growth rate of per capita capital stock is equal to 2%, the growth rate of per capita output is 1% O 0.5% O 2% O 0%

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