Why do we analyze the steady state in the Malthusian model?

Question

Quizplus · Accepted Answer

In the Malthusian model, the long run equilibrium is the steady state. The model is based on the assumption that population grows exponentially while resources grow arithmetically, leading to a steady state where population stabilizes at the level determined by the level of resources. Therefore, analyzing the steady state is necessary to understand the long-run implications of the model. Options A and B are incorrect because the steady-state analysis is not the only method available and there can be other interesting aspects of the model outside the steady state. Option C is incorrect because the Pareto optimum is not defined in the Malthusian model.

Why Do We Analyze the Steady State in the Malthusian