Question
1.(4 points) Country Healthy-living in a Malthusian world has the following production function: Y= 560D0.4N0.6, where Yis measured in pounds of food and D acres
1.(4 points) Country Healthy-living in a Malthusian world has the following production function:
Y= 560D0.4N0.6,
where Yis measured in pounds of food and D acres of land.
(a)(2 points) Suppose that the sustainable consumption is 600 pounds of food, i.e.
c=600.What is the country's population density at the steady-state?
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
