Set
Then
The steady states are
where the coexistence state is biologically relevant exactly when .
The Jacobian is
For , the origin has eigenvalues and is an unstable node. At the eigenvalues are and , so it is a stable node. At the coexistence state,
so it is a saddle.
The nullclines are , , , and . The stable manifold of the coexistence saddle separates trajectories tending to from trajectories on which and grows without bound. The coordinate axes are invariant.
There is no stable positive coexistence state: the only one is a saddle for every when . Moreover, the Bendixson-Dulac criterion with Dulac function applies in the positive quadrant, since
Thus no periodic orbit can support long-term coexistence. Except on the saddle's stable manifold, one species is excluded: species 2 becomes extinct for initial data in the basin of , ecologically when species 1 is sufficiently abundant and species 2 sufficiently scarce. On the other side, species 1 becomes extinct and the unregulated second species grows.

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