Draw a diagram for solow model with population growth


Consider the Solow model with population growth, as presented in the text. Assume that population can grow at two different rates n1 and n2, where n1 > n2. The population growth rate depends on the level of output per capita (and therefore the level of capital per capita). Specifically, population grows to rate n1 when k< k and slows down to rate n2 when k≥k. Draw a diagram for this model. Assume that (n 1 + δ) k > γf(k) and that (n2 + δ) k < γf(k). Explain what the diagram says about the steady state of the model.

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Microeconomics: Draw a diagram for solow model with population growth
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