The Earth could support perhaps 10x or even 100x more people - but by support I mean that that amount of people would survive. The real question is how does quality of life depend on population and where's the optimum. When you have a small population (e.g. 10 million), the rate of research is slow, there are not many different products on the market (i.e. you can't choose from hundreds of cars to buy like today), etc. With a large population on the other hand, you have less resources per capita - water, oil, minerals, land, wood.