Question: Suppose that the linear equation for consumption in a hypothetical economy is ( mathrm { C } = 6 0 0 + 0

Suppose that the linear equation for consumption in a hypothetical economy is \(\mathrm{C}=600+0.8\mathrm{Y}\). Also suppose that income \((\mathrm{Y})\) is 750. Determine the following:
(a) MPC
(b) MPS
(c) level of consumption
(d) level of saving
(e) APC
(f) APS.
Suppose that the linear equation for consumption

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