If the consumption function is given by C = 4200 + 0.75Y, state the marginal propensity to consume and deduce the marginal propensity to save.

Chapter 1, Exercises 1.7 #1

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If the consumption function is given by C = 4200 + 0.75Y, state the marginal propensity to consume and deduce the marginal propensity to save.

Related Book For answer-question

Mathematics for Economics and Business

9th edition

Authors: Ian Jacques

ISBN: 978-1292191669