Determine the effects of this in the long-run steady state

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Reference no: EM131103613

In the Malthusian model, suppose that there is technological advance that reduces death rates (which in turn increases the population growth rate.)

a) using diagrams, determine the effects of this in the long-run steady state and explain your results.

b) Plot what happens to the following variables over time as a result of the reduction in death rates, population size and consumption per person.

Reference no: EM131103613

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