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Which of the following statements is true regarding the logistic growth equation shown below?

$$\cfrac{dN}{dt} = r_{max}N\cfrac{(K-N)}{K}$$

The population experiences exponential growth when the value of $K$ is small.

The growth rate increases as $N$ approaches $K$.

The net increase in population size is greatest when the value of $N$ is small.

The growth rate is zero when $N$ equals $K$.