3. Assume that production function takes the form Y = (K'0.5.) + L'05))E, Show if this production function obeys neoclassical assumptions. 4. Lets assume that the time derivative of a continuous...

Extracted text: 3. Assume that production function takes the form Y = (K'0.5.) + L'05))E, Show if this production function obeys neoclassical assumptions. 4. Lets assume that the time derivative of a continuous variable Xa is defmed as X= M+ N where, M: and N: are also continuous variables defined by following functions: = ek+ & M, = ek and k is a constant. Find the grow th rate of X at the steady state in terms of k.