ADVANCED ANALYSIS Suppose that the linear equation for consumption in a hypothetical economy is C=60 + 0.75Y Also suppose that income (Y is $600. Determine the following values: Instructions: For parts a, b, d, and f, round your answers to 2 decimal places if necessary. For parts c and e, enter your answers as a whole number. a. MPC = b. MPS = c. Level of consumption = $ d. APC= e. Level of saving = $ %3D f. APS %3D

ADVANCED ANALYSIS Suppose that the linear equation for consumption in a hypothetical economy is C=60 + 0.75Y Also suppose that income (Y is $600. Determine the following values: Instructions: For parts a, b, d, and f, round your answers to 2 decimal places if necessary. For parts c and e, enter your answers as a whole number. a. MPC = b. MPS = c. Level of consumption = $ d. APC= e. Level of saving = $ %3D f. APS %3D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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