Equilibrium population


When there are n deer, it takes a deer n squared minutes to nd a fresh patch. A deer can survive if it gets 1 unit of grass every 200 minutes. A Find the average cost in time of a unit of grass if a deer gets y units of grass from each patch. B How much time will an e cient deer spend in each patch when there are n deer? Hint: Min. Avg. Cost Since there is free entry into the deer business, the equilibrium population is the maximum number of e cient deer who can survive. How many is this?

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Macroeconomics: Equilibrium population
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