   Chapter 12.4, Problem 3CP ### Mathematical Applications for the ...

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

#### Solutions

Chapter
Section ### Mathematical Applications for the ...

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

# If the marginal propensity to save is d s d y = 0 − 0.4 y find the marginal propensity to consume.

To determine

To calculate: The marginal propensity to consume where the marginal propensity to save is dSdy=0.70.4y.

Explanation

Given information:

It is provided that the marginal propensity to save is dSdy=0.70.4y.

Formula used:

Marginal propensity to consume:

Marginal propensity to consume dCdy is defined as one minus Marginal propensity to save dSdy.

dCdy=1dSdy

Calculation:

It is provided that marginal propensity to save is,

dSdy=0.70.4y

Consider the formula:

dCdy=1dSdy

Substitute 0

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