QUESTION 5 C DI C 50 $65 0 10 110 12520 20 20 18 160 18540...

Question

Question

Answer 1

Answer #1

MPC = Change in consumption / Change in Income

For Economy 1,

Change in Consumption = 11 - 4 = 7

Change in Income = 20 - 10 = 10

MPC = 7/10 =0.7

For Economy 2,

Change in Consumption = 125 - 65 = 60

Change in Income = 160 - 80 = 80

MPC = 60/80 = 0.75

For Economy 3,

Change in Consumption = 20 - 2 = 18

Change in Income = 40 - 20 = 20

MPC = 18/20 = 0.9

Ans is A) The MPC is higher in economy 3.

Answer 2

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