The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cornucopia. Use the given numerical values to complete the table. Disposable income ($) Consumption ($) Savings ($) Average propensity Average propensity to consume (APC) to save (APS) 11000.00 7850 0.2864 3850 0.7038 4550 0.3033 17000.00 0.6912 19000.00 0.3132 Marginal propensity Marginal propensity to save (MPS) to consume (MPC) 0.350 Answer Bank
The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cornucopia. Use the given numerical values to complete the table. Disposable income ($) Consumption ($) Savings ($) Average propensity Average propensity to consume (APC) to save (APS) 11000.00 7850 0.2864 3850 0.7038 4550 0.3033 17000.00 0.6912 19000.00 0.3132 Marginal propensity Marginal propensity to save (MPS) to consume (MPC) 0.350 Answer Bank
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cornucopia. Use the given
numerical values to complete the table.
Disposable income ($) Consumption ($) Savings ($)
Average propensity Average propensity
to consume (APC)
to save (APS)
11000.00
7850
0.2864
3850
0.7038
4550
0.3033
17000.00
0.6912
19000.00
0.3132
Marginal propensity
Marginal propensity
to save (MPS)
to consume (MPC)
0.350
Answer Bank
0.3088
0.650
0.7136
13000.00
9150
10450
0.067
3150
5950
15000.00
13050
11750
5250
0.2962
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