Slope of Consumption curve is denoted by :
(
This question was previously asked in
Shift 01/06/2023 8:30 AM - 11:30 AM
A
Average Propensity to Consume
B
Average Propensity to Save
C
Marginal Propensity to Consume
D
Marginal Propensity to Save
Correct Answer
Marginal Propensity to Consume
Detailed Explanation
The slope of the Consumption curve is denoted by:
The Marginal Propensity to Consume (MPC) represents the change in consumption for a unit change in income. It is the slope of the Consumption function and indicates how much additional consumption occurs when income increases by a small amount.
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