Question: - (5 points) Consider the recursion u; = 3u1 b. (a) Find the value of b such that the equilibrium solution of this recursion is

- (5 points) Consider the recursion u; = 3u1 b. (a)

- (5 points) Consider the recursion u; = 3u1 b. (a) Find the value of b such that the equilibrium solution of this recursion is % = 500. (b) Using the value of b you found in question (a), make a change of variables and show how this change transforms the affine geometric recursion u; = 3u;_1 b to a geometric recursion of the form v; = Av_1

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