C = 50 + 0.8Y is the consumption function that is consistent with the provided data. The MPC is determined by subtracting the change in consumption from the change in disposable income, which equals 160/200, or 0.8.
Marginal propensity calculation.
$200 billion less $0 billion equals $200 billion in changes to disposable income.
Consumption change equals $210 minus $50, or $160 billion.
MPC = Change in Consumption/Change in Disposable Income, which equals $160 billion/$200 billion and is equal to 0.8.
There is a 0.8 marginal tendency to consume.
Step 2
This is how consumption function is defined.
C = a + bY
Where,
a = Consumption at zero income level
b = MPC
In given case,
$50 billion would be consumed at a level of income zero.
MPC is 0.8
So,
C = 50 + 0.8Y is the consumption function that matches the provided data.
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Answer:
Product advertising
Explanation:
The accessories Gail's Gears is promoting are products.
Product advertising is a type of advertising that promotes the uses, features, and benefits of products. It focuses on selling a product or service.
Answer:
The correct option is D
Explanation:
Monopolistic competition is the market which characterizes or classify the industry, in which most of the businesses offer or provide the services or the products that are similar, but are not perfect substitutes.
In monopolistic competition, for the industry to exit as well as entry have barriers low and the single firm or business decisions, will not affect those of its competitors.
So, in this scenario, the jewelry store is in a situation where the store faces the most like monopolistic competition.
