Table 4

The influence of c on all equilibrium solutions

ConditionwYD*ce0YD*cDdYD*cπMYD*cpdYD*cprYD*cDrYD*cπRYD*c
(1)None<0<0<0<0    
(2)d<d5    <0   
dd5    0   
d<d6     <0  
dd6     0  
d<d7      <0<0
dd7      00

Source(s): Table 4 created by authors

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