Suppose that the marginal propensity to consume is and that consumption is $6.04 trillion when disposable income

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Suppose that the marginal propensity to consume is

and that consumption is $6.04 trillion when disposable income is $0. Find the national consumption function.

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Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Feb 09, 2018 07:17 AM

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Suppose that the marginal propensity to consume is and that consumption is $6.04 trillion when disposable income

Question:

In (y + 1) dC 0.04 + dy y+1

Step by Step Answer:

Letting C0 604 we find ...View the full answer

Mathematical Applications for the Management Life and Social Sciences

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