Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then

Question:

Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then the marginal propensity to consume is c'(x). Suppose x and c are both measured in billions of dollars and

If consumption is 10 billion dollars when x = 0, find c(x).

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

See More Books

Question Posted: Jun 24, 2023 04:41 AM

See More Questions

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
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. In (y + 1) dC 0.04 + dy y+1
Suppose that the marginal propensity to consume is dC / dy = 0.7 - e-2y and that consumption is $5.65 trillion when disposable income is $0. Find the national consumption function.
Four wooden beams, each of length 2a, are nailed together at their midpoints to form the support system shown. Assuming that only vertical forces are exerted at the connections, determine the...
A firm has estimated the following two month cash budget. What is the cash surplus or deficit for these two months? Mar Apr Sales 120 130 Cash collection 84.0 90.0 Total cash disbursement 90.0 85.0...
a. Describe Rimcos ISMS. b. What weaknesses exist in the ISMS? Rimco Automobile Company specializes in repairs and custom modifications for high performance sports cars. Dana Peaker, the CEO, is a...
Explain why sunk costs should not be included in a capital budgeting analysis, but opportunity costs and externalities should be included. AppendixLO1
Using the following information, compute working capital: Cost of Goods Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,000 Accounts Payable . . . . . . . . . . . . ....
You are awaiting approval of your full amortisation loan worth $860,297. The RBA has announced another increase of interest rates yesterday and you expect the major banks will pass on the interest...
Lost Dutchman Silver Mining Company has 200,000 shares of $7 cumulative preferred stock outstanding, $100 par value. The preferred stock has a participating feature. If dividends on the common stock...
A certain oil well that yields 400 barrels of crude oil per month will run dry in 2 years. The price of crude oil is currently $98 per barrel and is expected to rise at the constant rate of 40 cents...
A manufacturer estimates marginal revenue to be 200q 1/2 dollars per unit when the level of production is q units. The corresponding marginal cost has been found to be 0.4q dollars per unit. If the...
According to the National Association of Home Builders, 62% of new single-family homes built during 1996 had a fireplace. Suppose a nationwide home builder has claimed that its homes are a cross...
From a square whose side has length $x$, measured in inches, create a new square whose side is 5 in. longer. Find an expression for the difference between the areas of the two squares as a function...
Sketch the requested conic sections in Problems 14-23 using the definition. A circle with radius 5
Find the present value of the ordinary annuities in Problems 21-32. Amount of Deposit m 23. $250 Frequency n semiannually Rate r 8% Time t 30 yr
Characterize the types of investments that are most vulnerable to political risk. Characterize those that are least vulnerable. What factors influence an investments vulnerability? On a scale of 1 to...
Refer to the following tree diagram for a two-stage experiment. Find the probabilities in Problems 1-6. $P(B) $ E E A B C A B C
The durations of a random sample of 16 commercials are below (in seconds). Find the mean, median, and mode of these durations. 30, 12, 26, 7, 14, 35, 20, 30, 55, 8, 35, 18, 42, 15, 30, 10 Select one:...
Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series for each function. y = e x2 cos x
In the randomized block design, what benefit is gained from blocking?
In one-way ANOVA, we were able to determine the confidence interval for the population value of each treatment mean. Why is this not appropriate for the treatments being examined in the randomized...
Apply the dependent-samples t-test to the data in Exercise 12.53. Is the conclusion consistent with the one reached in that exercise? Explain.
Product Weight Sales Additional Processing Costs P 300,000 lbs. $ 245,000 $ 200,000 Q 100,000 lbs. 30,000 -0- R 100,000 lbs. 175,000 100,000 If joint costs are allocated based on relative weight of...
The projected benefit obligation was $380 million at the beginning of the year. Service cost for the year was $21 million. At the end of the year, pension benefits paid by the trustee were $17...
CVP Modeling project The purpose of this project is to give you experience creating a multiproduct profitability analysis that can be used to determine the effects of changing business conditions on...

Suppose the consumption function for a particular country is c(x), where x is national disposable income. Then

Question:

c'(x) = 0.9 +0.3√x

Step by Step Answer:

Since the consumption ...View the full answer

Calculus For Business, Economics And The Social And Life Sciences

Students also viewed these Mathematics questions