CBSE 2022 Class 12 Economics Delhi Set 1 (Term 2)
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Question : 3 of 21
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"In an economy, the autonomous consumption is and Marginal Propensity to Consume (MPC) is 0.6. If the equilibrium level of Income is 2,000 , then the autonomous investment is ."
Justify the statement with valid calculation.
Justify the statement with valid calculation.
Solution:
Given Information:
Autonomous consumption
Marginal Propensity to Consume
Equilibrium level of Income( )
Autonomous Investment
At equilibrium level,
Thus,
At this level of income, should be but it is given which is not valid.
Working Note:
Autonomous consumption
Marginal Propensity to Consume
Equilibrium level of Income( )
Autonomous Investment
At equilibrium level,
Thus,
At this level of income, should be but it is given which is not valid.
Working Note:
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