Transcritical bifurcation is a type of bifurcation that occurs in a dynamical system when two equilibrium points exchange stability as a parameter is varied. In this scenario, the system experiences a transition where the stability of one solution becomes unstable while another solution becomes stable, leading to a qualitative change in the system's behavior. This phenomenon plays a crucial role in understanding how systems can shift from one steady state to another and highlights the importance of stability analysis in assessing system dynamics.
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