Given MPC = 0.7Y+ 0.2 and C= 50 when Y = 0. What is the consumption function? %3D

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 18T
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0.2
and C= 50 when Y = 0. What is the consumption function?
Given MPC =0.7Y+
VY
O a. 0.7Y +0.3Y3/2+50
O b. 0.7Y+0.15Y3/2 + 50
Oc.0.7Y+0.3Y2/3+50
O d. 0.7Y+0.15Y2/3 +50
Transcribed Image Text:0.2 and C= 50 when Y = 0. What is the consumption function? Given MPC =0.7Y+ VY O a. 0.7Y +0.3Y3/2+50 O b. 0.7Y+0.15Y3/2 + 50 Oc.0.7Y+0.3Y2/3+50 O d. 0.7Y+0.15Y2/3 +50
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