Unlike Solow, Malthus did not focus on capital stock, but focused on the availability of (agricultural) land as a critical element of growth. Suppose we "Malthusize" the Solow model to include land. The Solow production function then becomes:

Y = X KL ^1-

Where X is available fertile land, K is capital, L is labor and is between 0 and 1.

if is 1/2, given a depreciation rate of and a population growth of n%, with no technological growth, the "Malthusized" Solow model will then predict that

a. There will be an increasing marginal return to having more fertile land

b. A decreasing marginal return to capital

c. A decreasing marginal return to labor

d. All of the above

e. None of the above