Concept explainers
Marginal Propensity to save Suppose C(x) measures an economy’s personal consumption expenditure and x measures the personal income, both in billions of dollars. Then
measures the economy’s savings corresponding to an income of x billion dollars. Show that
The quantity dS/dx is called the marginal propensity to save.
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Chapter 3 Solutions
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
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