Question: Precisely how do the APC and the MPC differ? Why must the sum of the MPC and the MPS equal 1? What are the basic

Precisely how do the APC and the MPC differ? Why must the sum of the MPC and the MPS equal 1? What are the basic determinants of the consumption and saving schedules? Of your personal level of consumption?

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APC is an average whereby total spending on consumption C is compared to total income Y APC CY MPC r... View full answer

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