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10. Consider a Malthusian model in which the equa- a. Suppose that A is constant. What will ation that relates the population growth rate to
10. Consider a Malthusian model in which the equa- a. Suppose that A is constant. What will ation that relates the population growth rate to the steady-state level of income per income per capita is capita be? 1 = Y - 100 b. Now suppose that A grows at a rate of 10% 100 per year (that is, A = 0.1). What will be the Let X be the total quantity of land in the steady-state level of income per capita? economy, which is fixed. Let x be the quantity Explain what is going on. of land per capita. The function that relates land per capita and income per capita is y = Ax, where A is a measure of productivity
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