The central force has no transverse component. Its angular equation is therefore
Thus the specific angular momentum is the constant
The radial equation is
Substitute :
Consequently the radial motion for is exactly a unit-mass one-dimensional motion in the effective potential
Its conserved energy is ; the second term in the effective potential accounts for the angular kinetic energy.
For circular orbits in an exponential central potential, a constant positive radius requires , or
Let . Its derivative is : it rises from zero to , then falls back to zero. Hence
The strict lower bound matters: the printed upper bound also allows , but then there is no finite-radius circular orbit. Nonzero angular momentum is an implicit hypothesis of the two-orbit claim.
At a circular orbit, use to obtain
A small radial displacement satisfies . Therefore the inner circular orbit is radially stable at fixed angular momentum, while the outer orbit is unstable. The inner perturbation oscillates with squared frequency ; the outer perturbation has an exponentially growing solution. At the limiting value , the radii coalesce at and the linear restoring coefficient vanishes.

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