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Mathematics for business and economics 1. Let the national Income model be Y =C+I+G (1 >0, G>O) C = b + a(Y -T) (0 0)

Mathematics for business and economics

1. Let the national Income model be Y =C+I+G (1 >0, G>O) C = b + a(Y -T) (0 0) G = gY (0 0, K >O) (a) Find MP, and MPR . (4) (b) Show that: 20 + K24 = 20 . (5) (c) If L = 10 and K = 10, determine the value of MRTS (4)

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