In the Autonomous Differential Equation $\frac { d x } { d t } = x ^ { 2 } ( 1 - x )$

question 20

Multiple Choice

In the autonomous differential equation $\frac { d x } { d t } = x ^ { 2 } ( 1 - x )$ , the critical point

• A) \(x = 0\) is an attractor
• B) \(x = 0\) is a repeller
• C) \(x = 1\) is an attractor
• D) \(x = 1\) is a repeller
• E) \(x = 1\) is semistable

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Definitions:

Short-Run Elasticity

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a price change over a short period.

Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price over a specific period.

Quantity Sold

The total number of units of a product or service that have been purchased by customers in a specific time period.

Quantity Supplied

The total amount of a good that sellers are willing to sell at a given price over a specified period.