Can someone explain to me what this is and how it's solved?
$ \frac{dK}{dt}=\lambda(P-K) $
$ \frac{1}{K}\frac{dK}{dt}=\lambda(P-K)$
I mean there is no t on the right hand side and there are two constants, what do I do about them?
From searching I understand this to be an autonomous, linear ODE? It looks sort of like the logistic growth model, but it's just the constant (lambda) in front?