Economy, asked by paddy2897, 10 months ago

How to calculate mpc given the consumption function?

Answers

Answered by Anonymous

Explanation:

The marginal propensity to consume is equal to ΔC / ΔY, where ΔC is change in consumption, and ΔY is change in income. If consumption increases by 80 cents for each additional dollar of income, then MPC is equal to 0.8 / 1 = 0.8.

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