The terms and represent intrinsic exponential population growth. The losses and describe competition between the species; and describe crowding within each species. The positive constant sets the relative time scale of the second population.
The four equilibrium points in the nonnegative quadrant are
The last follows by solving and and is strictly positive under the assumptions. The Jacobian matrix is
At the origin its eigenvalues are , so it is unstable. At the first single-species equilibrium they are and ; at the second they are and . Both are asymptotically stable. At coexistence,
Thus coexistence is a saddle; either species-only equilibrium is stable, and extinction is unstable. The saddle's stable manifold separates the competing basins of attraction.

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