Advertisements
Advertisements
Question
Find MPC ( Marginal propensity to Consume ) and APC ( Average Propensity to Consume ) if the expenditure Ec of a person with income I is given as Ec = ( 0.0003 ) I2 + ( 0.075 ) I when I = 1000.
Advertisements
Solution
Ec = ( 0.0003 ) I2 + ( 0.075 ) I
MPC = `(dE_c)/(dI)`
∴ MPC = 2 ( 0.0003 )I + 0.075
When I = 1000
∴ MPC = 2( 0.0003 ) 1000 + 0.075
∴ MPC = 0.675
∴ APC = `E_c/I`
∴ APC = 0.0003I + 0.075
When I = 1000
∴ APC = 0.0003( 1000 ) + 0.075
∴ APC = 0.375.
APPEARS IN
RELATED QUESTIONS
The side of an equilateral triangle is increasing at the rate of 2 cm/s. At what rate is its area increasing when the side of the triangle is 20 cm ?
Show that the function `f(x) = x^3 - 3x^2 + 6x - 100` is increasing on R
Water is dripping out from a conical funnel of semi-verticle angle `pi/4` at the uniform rate of `2 cm^2/sec`in the surface, through a tiny hole at the vertex of the bottom. When the slant height of the water level is 4 cm, find the rate of decrease of the slant height of the water.
Find the interval in which the following function are increasing or decreasing f(x) = 6 + 12x + 3x2 − 2x3 ?
Find the interval in which the following function are increasing or decreasing f(x) = 2x3 − 24x + 7 ?
Find the interval in which the following function are increasing or decreasing f(x) = x8 + 6x2 ?
Show that f(x) = x2 − x sin x is an increasing function on (0, π/2) ?
If the function f(x) = 2x2 − kx + 5 is increasing on [1, 2], then k lies in the interval
In the interval (1, 2), function f(x) = 2 | x − 1 | + 3 | x − 2 | is
Function f(x) = 2x3 − 9x2 + 12x + 29 is monotonically decreasing when
The function \[f\left( x \right) = \frac{\lambda \sin x + 2 \cos x}{\sin x + \cos x}\] is increasing, if
Find the values of x for which the following functions are strictly decreasing : f(x) = x3 – 9x2 + 24x + 12
Find the value of x, such that f(x) is increasing function.
f(x) = x2 + 2x - 5
Find the value of x, such that f(x) is increasing function.
f(x) = 2x3 - 15x2 - 144x - 7
Show that the function f(x) = x3 + 10x + 7 for x ∈ R is strictly increasing
Find the values of x such that f(x) = 2x3 – 15x2 – 144x – 7 is decreasing function
For every value of x, the function f(x) = `1/"a"^x`, a > 0 is ______.
In which interval is the given function, f(x) = 2x3 - 21x2 + 72x + 19 monotonically decreasing?
The interval on which the function f(x) = 2x3 + 9x2 + 12x – 1 is decreasing is ______.
If f(x) = sin x – cos x, then interval in which function is decreasing in 0 ≤ x ≤ 2 π, is:
