Suppose that the marginal propensity to save is and that consumption is $6 billion when disposable income

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Suppose that the marginal propensity to save is

dS 1 0.2 dy V3y + 7

and that consumption is $6 billion when disposable income is $0. Find the national consumption function.

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Mathematical Applications For The Management, Life And Social Sciences

ISBN: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Nov 16, 2020 01:53 AM

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Suppose that the marginal propensity to save is and that consumption is $6 billion when disposable income

Question:

dS 1 0.2 dy V3y + 7

Step by Step Answer:

02 1 3y7 1Cy or 12 Cy 0...View the full answer

Mathematical Applications For The Management, Life And Social Sciences

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