Suppose that the production function is given by v = 0.54/k4/N, where Yis output, K is capital, and N is the number of workers. Suppose that 6 = 0.05. With your favorite spreadsheet software, compute steady-state output per worker and steady-state consumption per worker for s = 0; s = 0.1; s = 0.2; s = 1. Graph the steady-state level of output per worker and the steady-state level of consumption per worker as a function of the saving rate. 1.) Using the multipoint curve drawing tool, draw a curve showing the relationship between YIN and the saving rate. Properly label your curve. 2.) Using the multipoint curve drawing tool, draw a curve showing the relationship between CW and the saving rate. Properly label your curve. Although the control points for your multipoint curves do not have to be exact, try to plot them as accurately as possible. At what saving rates are Y/N and CIN maximized? YIN is maximized at a saving rate of O A. 0.5, and CW is maximized at a saving rate of 0.5. O B. 1, and cm is maximized at a saving rate of 0.5. O C. 1, and CIN is maximized at a saving rate of 1. A n n I: "—4 nun :n ._….:…:_….I “I n "ma-.. m… n’ 4 ,o 0 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 Saving rate. 5 After plotting the final point of your multipoint curve, press the ‘Esc’ key on your keyboard to end the line. l2"