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What is the equilibrium level of consumption

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Reference no: EM133160093

Question - Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy.

Disposable Income and Consumption

Disposable Income (dollars)

Consumption (dollars)

$0

$12,000

10,000

19,200

19,500

26,400

29,000

33,600

38,500

40,800

48,000

48,000

Required -

a. What is the equilibrium level of consumption?

b. What is the MPC and MPS for this economy?

c. What is the value of autonomous consumption for this economy?

Reference no: EM133160093

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