Question

17. Complete the following table.
Level of income
400
500
600
700
Consumption expenditure
240
320
395
465
MPC
MPS
​

Answer 1

Answer:

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Answer 2

Answer:

MPC

1----

2. 80/100= 0.8

3. 75/100= 0.75

4. 70/100= 0.7

MPS

1.-----

2.20/100= 0.2

3.25/100= 0.25

4.30/100= 0.3

Explanation:

find saving by (income - consumption).

MPC= change in consumption/change in income.

MPS = change in savings/ change in income.