2 The consumption function of a certain country is given by 1000VI+ 701 - 0.8 C = where I is the national income in billions. Find the marginal propensity VI to save as a function of income, and evaluate when the national income is I = 3600. Give your answer to the nearest hundredth.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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2
The consumption function of a certain country is given by
1000VI+ 701 - 0.8
C =
where I is the national income in billions. Find the marginal propensity
VI
to save as a function of income, and evaluate when the national income is I = 3600. Give your
answer to the nearest hundredth.
Transcribed Image Text:2 The consumption function of a certain country is given by 1000VI+ 701 - 0.8 C = where I is the national income in billions. Find the marginal propensity VI to save as a function of income, and evaluate when the national income is I = 3600. Give your answer to the nearest hundredth.
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