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Average Propensity to Consume
The average Propensity to Consume [APC] is defined as the fraction of aggregate national income which is devoted to consumption. If consumption is denoted by C and income by Y, then:
APC = C/Y
The Average Propensity to Consume decreases in Keynes model as income increases.
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
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Explaination of the Marris Model
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