Logistic Growth
While population growth is often modeled by exponential functions, Pierre Verhulst proposed the logistic model in 1836 to account for the limit of growth in a biological system due to limited resources. The logistic model is based on the equation dP/dt = rP(1 - P/k), where P is population at time t, and r and k are constants related to the particular biological system. Looking at the differential equation; what happens to the growth rate dP/dt as P approaches k?