Define linear consumption function
Linear consumption function: It is a consumption function that is given on the basis of steady marginal propensity to consume. C = c + bY Here c = autonomous consumption B = marginal propensity to consume.
Linear consumption function: It is a consumption function that is given on the basis of steady marginal propensity to consume.
C = c + bY
Here c = autonomous consumption B = marginal propensity to consume.
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Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.
Elucidate the role of margin requirements for correcting deflationary gap.
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