Then We Can Apply The K L K And Y L Y Substitution K T 1 1 S We Canquot T Simply

Then, we can apply the K/L = k and Y/L = y substitution: k t+1 = 1 s We can”t simply do “the change in k, k, is equal to kt+1 – kt” because of that pesky 1/(1+n)(1+g). We”ve got to get rid of it. How?

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