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(15 points) Consider the Malthusian model. Suppose the Inuenza virus killed 10% of the people in an economy [i.e., only,r a one-time reduction in population,
(15 points) Consider the Malthusian model. Suppose the Inuenza virus killed 10% of the people in an economy [i.e., only,r a one-time reduction in population, without any other effects). Using a diagram, determine the long run (i.e., stead}r state) effects of this on the consumption per work, land per worker, and population. Graph the transition paths for consumption per worker and population from the old steady state to the new steady state
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