Consider the following. dQ 0.96 此 (x-24,999)0.04 * 225,000 (a) Use the marginal propensity to consume, dQ/dx, to write Q as a function of x where x is the income (in dollars) and Q is the income consumed (in dollars), Assume that familes who have annual incomes of $25,000 or less consume 100% of their income x 2 25,000 Q(x) = (b) Use the result of part (a) and a spreadsheet to complete the table showing the income consumed and the income saved, x - Q, for various incomes. (Round your answers to two decimal places.) X 25,000 50,000 100,000 150,000 Q x-e (c) Use a graphing utility to represent graphically the income consumed and saved. y 140000 140000 100000 100000 120000 120000 100000 0 80 000 80 000 100000 。 80000 60 000 60 000 80000 60 000 卡 60 000 40 000 40 000 40 000 40 000 x-Q 20 000 20 000 20 000 20 000 x-Q x-Q 75000 x X 75000 125000 25000 75000 125000 ① 0 25000 125000 X ①0 25000 。 x-Q 75000 125000 Y ①0 25000

Consider the following. dQ 0.96 此 (x-24,999)0.04 * 225,000 (a) Use the marginal propensity to consume, dQ/dx, to write Q as a function of x where x is the income (in dollars) and Q is the income consumed (in dollars), Assume that familes who have annual incomes of $25,000 or less consume 100% of their income x 2 25,000 Q(x) = (b) Use the result of part (a) and a spreadsheet to complete the table showing the income consumed and the income saved, x - Q, for various incomes. (Round your answers to two decimal places.) X 25,000 50,000 100,000 150,000 Q x-e (c) Use a graphing utility to represent graphically the income consumed and saved. y 140000 140000 100000 100000 120000 120000 100000 0 80 000 80 000 100000 。 80000 60 000 60 000 80000 60 000 卡 60 000 40 000 40 000 40 000 40 000 x-Q 20 000 20 000 20 000 20 000 x-Q x-Q 75000 x X 75000 125000 25000 75000 125000 ① 0 25000 125000 X ①0 25000 。 x-Q 75000 125000 Y ①0 25000

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4: Estimating Demand

Section: Chapter Questions

Problem 6E

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