The per-capita net growth rate is the birth rate minus the death rate,
Multiplying by the population size gives the ordinary differential equation
This is the exponential density-dependent birth model.
At a positive equilibrium, division by gives
Since , this has the positive solution
Write the vector field as . Its derivative is
At , the first two terms cancel and , so
The one-dimensional linear stability analysis therefore shows that is locally asymptotically stable.

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