According to the Easterlin hypothesis, how does the relative size of a birth cohort affect the life-cycle wellbeing of its members? Question 7 options: Larger birth cohorts suffer from reduced economic wellbeing due to greater competition for jobs and resources, which can increase economic strain. Larger birth cohorts benefit from improved education and social control, leading to better economic outcomes. The wellbeing of a cohort is determined solely by the economic conditions present during its formative years, regardless of its size. None of the above accurately represents the Easterlin hypothesis