Given a consumption function C = 10 + 0.6Y, determine the...
Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20
36.60
22.00
30.60
26.00
Correct answer is B
Given C = 10 + 0.6Y when Y = 20
Substitute for the value of Y in the equation to calculate the actual value for C
Therefore, C = 10 + 0.6(20)
C = 10 + 12
C = 22.00
Which of the following is a determinant of elasticity of supply? ...
In a sole proprietorship, decisions are made by the ...
Separation of ownership of resources and their control is mostly found in a _________ ...
The market structure in which the operation are many and none of them can influence the price is ...
A vertical supply curve indicates that ...
An increase in the rice harvest, all things being equal, may cause___________ ...
The range of the data 14,13,15,18,20,35 and 13 is ...
In its simplified form, the circular flow of income concept refers to the ...