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An economy is characterised by the following relationships: C=500+0.6Y. I=300. Plot an aggregate expenditure and aggregate supply curves for incomes ranging from 500 to 3000 (b) find out the equilibrium level of income. (c) what is the level of consumption at the equilibrium level of income? (d) find out the marginal propensity to save for this economy.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M958372

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