Suppose that the marginal propensity to consume is (in billions of dollars) = 0. = 0.8-e and that consumption is $5.7 billion when disposable income is $0. Find the national consumption function.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter7: Integration
Section7.EA: Extended Application Estimating Depletion Dates For Minerals
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Suppose that the marginal propensity to consume is
dC
= 0.8-e-2y
(in billions of dollars)
and that consumption is $5.7 billion when disposable income is $0. Find the national consumption function.
Transcribed Image Text:Suppose that the marginal propensity to consume is dC = 0.8-e-2y (in billions of dollars) and that consumption is $5.7 billion when disposable income is $0. Find the national consumption function.
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