Answer to Question #198994 in Economics for Ala Ana

Question

Consider the Malthusian population growth model given by the following equation 

p' (t) / p(t) = 0.003,p₀ = 1000

a) Use the same constants to write the discrete-time Malthusian population model. 

b) Derive the population trajectory for the given continuous-time model. 

c) Compute the fixed point of the trajectory determined above and analyze stability.

Answer 1

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