Would you ration to survive?

There is 100 people: 25 couples, 2 kids a piece, but there is only enough food for 50% of that population for 500 years. The land will not be fertile to crop past 500 years. There is no technological possibility of reproducing excess anything. In the winter you consume more food, and the summer, more water. There is electricity, air conditioning, work, parks, etc. Do not add to the scenario.