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Suppose that the linear equation for consumption in a hypothetical economy is C = 850 +0.2 Y.Also suppose that income (Y) is 890.Determine the following:
Suppose that the linear equation for consumption in a hypothetical economy is
C = 850 +0.2 Y.Also suppose that income (Y) is 890.Determine the following:
(a) MPC=
(b) MPS=
(c) level of consumption=
(d) level of saving=
(e) APC=
(f) APS.=
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