Suppose that the marginal propensity to consume is and that consumption is $6.04 trillion when disposable income
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and that consumption is $6.04 trillion when disposable income is $0. Find the national consumption function.
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In (y + 1) dC 0.04 + dy y+1
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Letting C0 604 we find ...View the full answer
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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