Chapter 12.4, Problem 17E

### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

Chapter
Section

### Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

# If consumption is $8 trillion when income is$0 and if the marginal propensity to consume is d C d y = 0.3 + 0.2 y find the national consumption function.

To determine

To calculate: The national consumption function If consumption is $8 trillion when disposable income is$0 trillion and if the marginal propensity to consume is dCdy=0.30+0.2y.

Explanation

Given Information:

The consumption is $8 trillion when disposable income is$0 trillion and if the marginal propensity to consume is dCdy=0.30+0.2y.

Formula used:

The integration of function f(x)=xn is given by;

xndx=xn+1n+1+c n1

Here c is any arbitrary constant.

Calculation:

Consider the marginal propensity to consume is;

dCdy=0.30+0.2y

Integrate the equation with respect to y,

C=(0.30+0

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