In this example, RSolve is not giving the result I'd expect (the parenthesis!). Am I missing something?
In[452]:=
RSolve[{p[t + 1] == ( x[t] p[t] ) / ( 1 + b p[t] ), p[0] == p0}, p[t],
t] /. t -> 1
Out[452]= {{p[1] -> p0 / ( 1 + ( b p0 ) / x[0] )}}
I am using Mathematica 11.3 on Linux.