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If the national consumption function is given by C(y) = 6(y + 1)/2 + 0.3y + 8 where y is the national disposable income,
If the national consumption function is given by C(y) = 6(y + 1)/2 + 0.3y + 8 where y is the national disposable income, find the marginal propensity to consume, dC/dy. dC/dy =
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Cy6y112 03y 8 Find dCdy First take the derivative of both sides Cyddy6y112 0...
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
