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
Where Y is aggregate income, N is population, and L is land.
Now assume that L = 200000. Redo
What is the intuition?