If the consumption function is given by C = 0.7 Y + 40 state the values of
Question:
If the consumption function is given by C = 0.7 Y + 40 state the values of
(a) autonomous consumption;
(b) marginal propensity to consume.
Transpose this formula to express Y in terms of C and hence find the value of Y when C = 110.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
b 07 07Y40C 07YC40 YC40 7Y1...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
A consumption function is given by C = aY + b. It is known that when Y = 10, the value of C is 28, and that when Y = 30, the value of C is 44. By solving a pair of simultaneous equations, find the...
-
1. If the national consumption function is given by C(y) = 2(y + 1)1/2 + 0.4y + 4 find the marginal propensity to consume, dC/dy. 2. Suppose that the demand function for q units of an appliance...
-
A function is given by a table of values, a graph, a formula, or a verbal description. Determine whether it is one-to-one. (a) (b) (c) (d) f (x) = x2 - 2x f(x) .5 2.0 365.32.8 2.0
-
Use your results from question 16 to construct a cumulative frequency table. Use the goaltenders salaries for the 1991 NHL season given in the following table to answer question. Question 16 Group...
-
A local fast-food store is considering accepting major credit cards in its outlets. Current annual sales are $800,000 per outlet. The company can purchase the equipment needed to handle credit cards...
-
If a card is drawn from a well-shuffled pack of fifty-two playing cards, what is the probability of drawing (a) A red king (b) A 3, 4, 5 or 6 (c) A black card (d) A red ace or a black queen?
-
Provide a case for and against high bonuses.
-
1. How successful was this project? 2. What best practices were evident in the case? How did they contribute to project objectives? Chad Cromwell, head of university housing, gazed up at the tower at...
-
Pierre works at Winners and as an employee he is given the ability to buy a suit for $100 when regular customers would pay $500 for the same suit. Winners cost for the suit is $150. Does Pierre have...
-
Given the following activities required for staging a community play on Independence Day, (a) Construct an AON diagram. (b) Determine the earliest completion time for the play and the critical path....
-
If the national income, Y, is 1000 units, then consumption, C, is 800 units. Also whenever income rises by 100, consumption increases by 70. Assuming that the consumption function is linear: (a)...
-
Write down expressions for the savings function given that the consumption function is (a) C = 0.9Y + 72 (b) C = 0.8Y + 100
-
Venus is brighter when it appears as a crescent than when we can see its full disk. Why?
-
discuss the role of biofilms in microbial growth and persistence, including the molecular mechanisms of biofilm formation, matrix composition, and the implications for antibiotic resistance, host...
-
What are the linkages among financial decisions, return, risk and stock value for this firm? The firm I selected for this discussion is Nike. Nike is the #1 brand in sporting goods industry, regarded...
-
How do microorganisms adapt to diverse environmental conditions through phenotypic plasticity, metabolic flexibility, and stress response pathways, and how does this versatility influence microbial...
-
How do power dynamics shape the construction of ethnic hierarchies and the distribution of resources and opportunities within societies, particularly in contexts of ethnic minority marginalization...
-
Worldwide, t-shirt exports had a total value of $44,300,000,000 for a particular year. Of this amount, approximately (1)/(3) came from cotton t-shirts. Worldwide, what was the value of cotton...
-
The comparative statement of financial position for Baird Corporation shows the following noncash current asset and liability accounts at March 31:...
-
Maria Castigliani is head of the purchasing department of Ambrosiana Merceti, a medium-sized construction company. One morning she walked into the office and said, The main problem in this office is...
-
Suppose that the supply and demand for printed baseball caps for a particular week are Price-supply equation Price-demand equation where p is the price in dollars and q is the quantity in hundreds....
-
Suppose that the supply and demand for printed baseball caps for a particular week are Price-supply equation Price-demand equation where p is the price in dollars and q is the quantity in hundreds....
-
At $2.13 per bushel, the annual supply for corn in the Midwest is 8.9 billion bushels and the annual demand is 6.5 billion bushels. When the price falls to $1.50 per bushel, the annual supply...
-
The answer of the fiurth line is not 4, 8, 32 or 40. I just need the answer for the fourth line Question 1 Memory Allocation SUBMITTED How much memory (in bytes) is taken up by the following...
-
Critical Thinking 10-7: Dynamic Mobile Access There are so many opportunities now for people to allow constant and dynamic connection between their mobile phone and an external (often unregulated)...
-
In Matlab, create a code that puts the value three-halves pi radians, 3 ????, in a variable named "angle". Then set another variable named angleDegrees equal to a calculation that converts the value...
Study smarter with the SolutionInn App