Which statement incorrectly describes the Malthusian model?

Select one:

a.

If the population grows too much, the economy will not return to the equilibrium

b.

Average product of labour diminishes as more labour is devoted to the fixed amount of land

c.

The economy reaches an equilibrium where the income level is just sufficient to cover a subsistence level of consumption

d.

Population growth will decrease income levels as a result of diminishing average product

e.

As living standards improve, population will expand