If disposable income decreases the average propensity to consume will

Asked by admin @ 28/10/2021 in Business viewed by 249 People

Suppose that when disposable income decreases by $2,000, consumption spending increases by $1500. Given this information, we know that the marginal propensity to consume (MPC) is

Answered by admin @ 28/10/2021

Answer:

the marginal propensity to consume is 0.75

Explanation:

The computation of the marginal propensity to consume is shown below:

MPC = Change in consumption ÷Change in disposable income

where,

The Change in consumption is 1500

ANd, the Change in disposable income is 2000

So,

MPC is

= $1,500 ÷ $2,000

= 0.75

hence, the marginal propensity to consume is 0.75

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