Convert the Cobb-Douglas production $Y = \bar { A } K ^ { a } L ^ { 1 - a }$
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?

Question

Convert the Cobb-Douglas production $Y = \bar { A } K ^ { a } L ^ { 1 - a }$ 
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?

Quizplus · Accepted Answer

The Answer of Convert the Cobb-Douglas production $Y = \bar { A } K ^ { a } L ^ { 1 - a }$ 
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?

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

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