Answered: Given the scatter diagram in Figure…

Business

Economics

Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)? a. 1 b. 2/3 c. 1/2 d. 1/3

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)?

2/3

1/2

1/3

I know the answer of this question

answer is 2/3 but can you please give the explanation how 2/3 is the answer of the problem

600+
500-
400-
300.
300
400
500
600
700
800
Real disposable income (billions)
Consumer spending
(billions)

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