The marginal propensity to consume is
a. the fraction of an increase in income that would be spent on consumer goods.
b. the additional desire people have for consumer goods.
c. the fraction of a person’s total income normally spent for consumer goods.
d. the change in consumption resulting from a $1 change in the price level.
a. the fraction of an increase in income that would be spent on consumer goods.
Economics
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If the price of a good is below the equilibrium price,
What will be an ideal response?
Economics
The firm in the figure above is in monopolistic competition. The firm has
A) no excess capacity. B) excess capacity of 10 units. C) excess capacity of 20 units. D) excess capacity of 30 units.
Economics