CBSE Class 12-commerce Answered
if mpc is four times mps and consumption at zero level of income is 70 crores derive the consumption function
Asked by adhavanadhishree | 16 Mar, 2019, 12:22: PM
Expert Answer
Let the value of MPS be x
MPC÷MPS = 4x÷x
MPC+MPS=1
4x+x=1
x=1/5
MPC= 4×1/5
MPC=0.8
CONSUMPTION FUNCTION= 70+0.8Y
Answered by Christina | 23 Mar, 2019, 06:15: PM
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