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Suppose that you win a $1,000 scholarship competition, and spend $600 of that amount right away on books and food, and save $400 for use

Suppose that you win a $1,000 scholarship competition, and spend $600 of that amount right away on books and food, and save $400 for use in the following semester. What is your marginal propensity to consume?

a) 0.40

b) 0.60

c) 0.80

d) 1.00

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