Solution Found!
(a) Find all equilibria of Nt+1 = 0.9Nt , t = 0, 1, 2, . . . (b) Use cobwebbing to
Chapter 5, Problem 7(choose chapter or problem)
QUESTION:
(a) Find all equilibria of
\(N_{t+1}=0.9 N_{t}, \quad t=0,1,2, \ldots\)
(b) Use cobwebbing to determine the stability of the equilibria you found in (a).
Questions & Answers
QUESTION:
(a) Find all equilibria of
\(N_{t+1}=0.9 N_{t}, \quad t=0,1,2, \ldots\)
(b) Use cobwebbing to determine the stability of the equilibria you found in (a).
ANSWER:Step 1 of 2
(a)To find the equilibrium points for the difference equation \(N_{t+1}=0.9 N_{t}\), we will set the following:
\(N=0.9 N\)
This yields us a trivial solution N = 0.
Thus, equilibrium point is at N = 0.