Disposable Income and Consumption Disposable Income Consumption (dollars) $12,000 20, 000 28,000 (dollars) 12,000 24,000 36,000 36, 000 48, 000 44,000 60,000 52,000 Instructions: In parts a and c, enter your answers as a whole number. In part b, round your answers to 2 decimal places. a. What is the equilibrium level of consumption? 2$ b. What is the MPC and MPS for this economy? MPC: MPS: c. What is the value of autonomous consumption for this economy? %24

Disposable Income and Consumption Disposable Income Consumption (dollars) $12,000 20, 000 28,000 (dollars) 12,000 24,000 36,000 36, 000 48, 000 44,000 60,000 52,000 Instructions: In parts a and c, enter your answers as a whole number. In part b, round your answers to 2 decimal places. a. What is the equilibrium level of consumption? 2$ b. What is the MPC and MPS for this economy? MPC: MPS: c. What is the value of autonomous consumption for this economy? %24

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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