Suppose measures an economy's personal consumption expenditure and x the personal income, both in billions of dollars. Then,
measures the economy's savings corresponding to an income of x billion dollars. Then
. The quantity dS/dx is called the marginal propensity to save.
For the consumption function , where
and x are measured in billions of dollars, find the marginal propensity to save when
.
A)
B)
C)
D)
Correct Answer:
Verified
Q162: The number of viewers of a television
Q163: The quantity demanded each week x (in
Q164: Suppose a certain economy's consumption function is
Q165: The demand equation is Q166: A division of Ditton Industries manufactures the Q168: The quantity demanded each week x (in Q169: Determine whether the statement below is true Q170: The total weekly cost (in dollars) incurred Q171: Suppose Q172: The consumption function of the U.S. economy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents