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A:
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Find consumption if income is $660 and APC is 0.67
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- DEFINE Limit of consumption optionsFind the APC when consumption is said to be 192 and the income is 246Assume you define your permanent income as the average of your income from this and the past four years. Your earnings record over these five years has been: Yt = 40,000, Yt-1 = 38,000, Yt-2 = 34,000, Yt-3 = 32,000, Yt-4 = 31,000. If your income increases next year to Yt+1 = 46,000, by how much will your consumption change if you always consume 90 percent of your permanent income?
- I need some help drawing the curve for p1+p2+p3If BC2 is the relevant budget constraint, then which of the following bundle(s) is(are) affordable? A. A. B. B. C. C. D. All of the above. E. None of the above.Mr. Young purchases 100 units of GOOD X monthly given his monthly income of Php25000. When his income was raised by 20%, he now purchases 50 units. What kind of good is GOOD X? Show the necessary computation to support your answer.