Question: Given in the below table, Income and Consumption based on which you are required to ascertain the following 1. Average Propensity to Consume 2. Average
Given in the below table, Income and Consumption based on which you are required to ascertain the following
1. Average Propensity to Consume
2. Average Propensity to Save
3. Marginal Propensity to Consume
Income Y
Value in Ksh "000"
Consumption C
Value in Ksh "000"
240
240
360
340
480
440
600
540
720
640
840
740
End of Question Paper
Step by Step Solution
3.50 Rating (153 Votes )
There are 3 Steps involved in it
The detailed answer for the above question is provided below 1 Average Prope... View full answer
Get step-by-step solutions from verified subject matter experts
