Economy, asked by chiragjainw7818, 1 year ago

LINEAR CONSUMPTION FUNCTION

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Answered by Vaibhavverma73

0

Hey mate!

I am here with your answer!

Linear Consumption Function: There are two important concepts of propensity to consume, the one being average propensity to consume and the other marginal propensity to consume. Now, how much consumption changes in response to a given change in income depends upon the average and marginal propensity to consume.

Hope this will help you!

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