# An economy has the per-worker production function y t =4k t 0.5 where y t is output per worker and k t is the capital- labor ratio. The depreciation…

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An economy has the per-worker production function

yt =4kt0.5

where yt is output per worker and kt is the capital- labor ratio. The depreciation rate is 0.04, and the population growth rate is 0.02. Saving is

St = 0.15Yt

Please help me to use (or draw) the Solow diagram (i.e., the diagram that shows saving per worker and steady state investment per worker as functions of capital-labor ratio) to show the effect of a technological advancement that improves productivity on the steady state values of capital-labor ratio, output per worker, and consumption per worker.

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