申論題

Consider the Solow growth model without population growth or technological change. The parameters of the model are given by s = 0.2 (savings rate) and S= 0.05 (depreciation rate). Let k denote capital per worker, y denote output per worker, c denote consumption per worker. [20 pts]
(a) Suppose that the production function of aggregate outputs is Y = where K denotes capital inputs, and N denotes labor inputs. Rewrite the production function in per-worker terms, and find the steady-state level of capital per worker. [8 pts]