{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Economics Dynamics Problems 71

# Economics Dynamics Problems 71 - phase line If x ± t = 0...

This preview shows page 1. Sign up to view the full content.

Continuous dynamic systems 55 Figure 2.13. a variable which is a continuous function of time, t . Let x ± ( t ) denote an autonomous differential equation, so that x ± ( t ) is just a function of x and independent of t . Assume that we can solve for x ± ( t ) for any point in time t . Then at any point in time we have a value for x ± ( t ). The path of solutions as t varies is called a trajectory , path or orbit . The x -axis containing the trajectory is called the
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: phase line . If x ± ( t ) = 0 then the system is at rest. This must occur at some particular point in time, say t . The solution value would then be x ( t ) = x ∗ . The point x ∗ is referred to variedly as a rest point , fxed point , critical point , equilibrium point or steady-state solution . For the Malthusian population equation p ± ( t ) = kp , there is...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online