Answer to Question #199189 in Economics for Ala Ana

Question

Consider the logistic growth model given by

Y_t = Y_{t -1} + 0.08 Y_{t -1} ( 1 - Y _{t -1} / 50 ) , Y₀ = 60

a) Explain the significance of the constants.

b) Compute the fixed points of the trajectory and analyze their stability.

c) Derive the linear approximation of the discrete dynamic system.

d) Compute the trajectory for the linear approximation determined above. 

Answer 1

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