3. The residents of a certain dormitory have collected the following data: People who live in the...

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3. The residents of a certain dormitory have collected the following data: People who live in the dorm can be classified as either involved in a relationship or uninvolved. Among involved people, 10 percent experience a breakup of their relationship every month. Among uninvolved people, 5 percent will enter into a relationship every month. What is the steady-state fraction of residents who are uninvolved?

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Macroeconomics

ISBN: 9781429218870

7th Edition

Authors: N. Gregory Mankiw

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