Question: Given the consumption function C=3y+Y+4, calculate MPC and MPS when Y= 11. If MPC = 0.26, find MPS. II. (10 points) If a demand

Given the consumption function C=3y+Y+4, calculate MPC and MPS when Y= 11.

Given the consumption function C=3y+Y+4, calculate MPC and MPS when Y= 11. If MPC = 0.26, find MPS. II. (10 points) If a demand function is P=-Q2-10Q+ 150, find the price elasticity E if Q = 5. Derive an estimate of the percentage change in price needed to increase demand at Q-4 by 2%.

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