Consumption curve
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is equivalent to Income.
Illustrate a point on consumption curve at which APC = 1.
Answer:
APC = C/Y = 1 is possible when C = Y, that is, Consumption is equivalent to Income.
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When heroin were legalized, in that case the: (w) market price of heroin would drop considerably. (x) demand would raise although supply would decrease. (y) demand would decrease but supply would increase. (z) price of cocaine would raise. Q : Difference between APC and MPC Differentiate between APC and MPC. The value of which of them can be greater than another and when? Answer: APC is the average
Differentiate between APC and MPC. The value of which of them can be greater than another and when? Answer: APC is the average
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