Answered: If consumption is $30,000 when income…

If consumption is $30,000 when income is $40,000, and consumption increases to $34,000 when income increases to $45,000, the MPC is Select one: O a. None of the options O b. 0.8 O c. 0.2 O d. 0.4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If consumption is $30,000 when income is $40,000, and consumption increases to $34,000 when income increases to $45,000, the MPC is

Select one:

O a. None of the options

O b. 0.8 O

c. 0.2

O d. 0.4

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