Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is APC in 2020 and 2021 ? What is MPC and MPS in 2021 ? 2. (8 marks) Suppose in January 2020 Ria's weekly

what is APC in 2020 and 2021 ? What is MPC and MPS in 2021 ?

image text in transcribed
2. (8 marks) Suppose in January 2020 Ria's weekly salary (Disposable income) was $1500, out of which she usually spent $700. In January 2021 her disposable income rose from $1500 to $1900, and her spending increased from $700 to $950. Answer the following (show the work for each part): a. What is Ria's APC in January 2020? b. What is Ria's APC in January 2021? c. What is Ria's MPC in January 2021? d. What is Ria's MPS in January 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics The Basics

Authors: Michael Mandel

2nd Edition

0073523186, 9780073523187

More Books

Students also viewed these Economics questions

Question

Briefly describe Aristotles four kinds of causation.

Answered: 1 week ago

Question

1. Too understand personal motivation.

Answered: 1 week ago