Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then

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Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then the marginal propensity to consume is c'(x). Suppose x and c are both measured in billions of dollars and

If consumption is 10 billion dollars when x = 0, find c(x).

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Related Book For answer-question

Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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Question Posted: Jun 24, 2023 04:41 AM

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Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then

Question:

c'(x) = 0.9 +0.3√x

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Since the consumption ...View the full answer

Calculus For Business, Economics And The Social And Life Sciences

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