Please answer correctly this is my 3rd attempt Suppose that the marginal propensity to consume isdC= 0.8 - e-0.2ydy(in billions of dollars)and that consumption is $7.5 billion when disposable income is $0. Find thenational consumption function.

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Answered: Suppose that the marginal propensity to…

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Suppose that the marginal propensity to consume is dC -0.2y = 0.8 - e dy (in billions of dollars)

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter3: Functions

Section3.3: More On Functions; Piecewise-defined Functions

Problem 88E

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Question

Please answer correctly this is my 3rd attempt

Suppose that the marginal propensity to consume is
dC
= 0.8 - e-0.2y
dy
(in billions of dollars)
and that consumption is $7.5 billion when disposable income is $0. Find the
national consumption function.

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