Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is the solution to the attached?
Transcribed Image Text:M
45°
K
Income
The graph shows the relationship between consumption and income. The ratio LM/PL would be a measure of the
Multiple Choice
marginal propensity to consume.
marginal propensity to save.
average propensity to consume.
average propensity to save.
Consumption
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