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Computing the intuition utilizing the production function, birth scheduled and death scheduled.

Assume the following Malthusian economy. The birth schedule is given as

B = 100 + y

Where y is per capita income. The death schedule is given by

D = 300-y

Finally, the aggregate production function is given by

Y= NαL1-α

Where Y is aggregate income, N is population, and L is land.

Now assume that L = 200000. Redo

What is the intuition?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M921352

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