Answer:
The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.i hope my explanation will help you in understanding this particular question.
Explanation:
Answer:
agents
Explanation:
Tourism uses agents to commercialize the travel packages.
Answer:
0.5
Explanation:
marginal propensity to consume Can be regarded as the increase in pay that is been consumer experience on the purchasing of products which is just a part at aggregate. Instead of consumer to save
We are told that income rises from $46,000 to $48,000.
The difference= $48,000-$46,000= $2000
✓consumption spending rises from $38,00 to $39,500
The difference= $39,500-$38,00= $1000
Then the marginal propensity to consume can calculated as ratio of the difference in consumption spending to income rise
=1000/2000=0.5
Therefore, the MPC is 0.5
Answer:
Part I :
1) Total amount of oats allowed = 960000*16 = 15360000 ounce
2) Total amount of labor hours allowed = 960000*.04 = 38400 Hours
<u>Part II :
</u>
1) Total amount of oats allowed = 750000*17 = 12750000 ounce
2) Total amount of labor hours allowed = 750000*.04 = 30000 Hours
