Economics:
Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Chapter 9, Problem 15E
To determine

(a)

To write:

Consumption function

C= 200+0.8Y

The amount of autonomous consumption.

To determine

(b)

To write:

Consumption function

C= 200+0.8Y

The value of marginal propensity to consume.

To determine

(c)

To write:

Consumption function

C= 200+0.8Y

The value of consumption when GDP equals $1000.

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Figure: Demand 3 If the two-firm oligopoly facing the market in this diagram is currently producing at the competitive output level and one of the firm reduces output by 4 units, the firms' profits would increase from 564596. O50524 50 to $48 O532 548
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