The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cornucopia. Use given numerical values to complete the table. Average propensity Average propensity Disposable income ($) Consumption ($) Savings ($) to consume (APC) to save (APS) 9000.00 7950 1050 0.8833 0.1167 1350 0.8773 1650 0.1269 15000.00 0.8700 17000.00 0.1324 Marginal propensity Marginal propensity to consume (MPC) to save (MPS) 0.150 Answer Bank 13050 2250 11350 11000.00 0.1300 0.8676 14750 9650 0.1227 0.850 0.8731 13000.00 1950
The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cornucopia. Use given numerical values to complete the table. Average propensity Average propensity Disposable income ($) Consumption ($) Savings ($) to consume (APC) to save (APS) 9000.00 7950 1050 0.8833 0.1167 1350 0.8773 1650 0.1269 15000.00 0.8700 17000.00 0.1324 Marginal propensity Marginal propensity to consume (MPC) to save (MPS) 0.150 Answer Bank 13050 2250 11350 11000.00 0.1300 0.8676 14750 9650 0.1227 0.850 0.8731 13000.00 1950
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.
Average propensity Average propensity
Disposable income ($) Consumption ($) Savings ($)
to consume (APC)
to save (APS)
9000.00
7950
1050
0.8833
0.1167
1350
0.8773
1650
0.1269
15000.00
0.8700
17000.00
0.1324
Marginal propensity
Marginal propensity
to consume (MPC)
to save (MPS)
0.150
Answer Bank
13050
2250
11350
11000.00
0.1300
0.8676
14750
9650
0.1227
0.850
0.8731
13000.00
1950
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