Advanced Mathematical Concepts: Precalculus with Applications, Student Edition

1st Edition

ISBN: 9780078682278

Author: McGraw-Hill, Berchie Holliday

Publisher: Glencoe/McGraw-Hill

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Question

Chapter 1.3, Problem 39E

To determine

To find: MPC.

Expert Solution

Answer to Problem 39E

0.86

Explanation of Solution

Given information:

The variables represents as follows:

$x=Nation's disposable incomey=Personal consumption expenditure$

$x$ (billions of dollars)	$y$ (billions of dollars)
56	50
76	67.2

MPC = Marginal propensity to consume

When MPC is 0.7, the value of $Δx and Δy$ is 1 and 0.7 respectively.

Calculation:

Since 0.7 MPC means, the value of $Δx=1$ and $Δy=0.7$ . We can evaluate this MPC value as follows:

$MPC=ΔyΔx=0.71=0.7$

Thus, the equation for MPC can be written as follows:

$MPC=ΔyΔx=y2−y1x2−x1$

Put the values of x and y in the above equation to evaluate MPC as follows:

$MPC=ΔyΔx=62.5−5076−56=17.220=0.86$

Thus, the value of MPC is 0.86.

To determine

To find: the additional dollars spend by the average family.

Expert Solution

Answer to Problem 39E

$$1552.3$

Explanation of Solution

Given information:

The variables represents as follows:

$x=Nation's disposable incomey=Personal consumption expenditure$

$x$ (billions of dollars)	$y$ (billions of dollars)
56	50
76	67.2

Marginal propensity to consume, MPC = 0.86

The condition given is that x increases $1805.

Calculation:

The equation of MPC is as follows:

$MPC=yx$

Plug in the given values to evaluate y as shown below.

$0.86=y$18050.86($1805)=y$1552.3=yy=$1552.3$

Thus, the additional consumption expenditure of an average family increases by $$1552.3$ .

To determine

To find: MPS.

Expert Solution

Answer to Problem 39E

0.14

Explanation of Solution

Given information:

MPC = Marginal propensity to consume

MPS = Marginal propensity to save

$MPS=1−MPC$

MPC = 0.86

Calculation:

Put the value of MPC in the given equation to evaluate MPS as follows:

$MPS=1−MPC=1−0.86=0.14$

Thus, the MPS is 0.14.

To determine

To find: the additional dollars saved by the average family.

Expert Solution

Answer to Problem 39E

$$252.7$

Explanation of Solution

Given information:

The variables represents as follows:

$x=Nation's disposable incomey=Personal consumption expenditure$

$x$ (billions of dollars)	$y$ (billions of dollars)
56	50
76	67.2

Marginal propensity to save, MPS = 0.14

The condition given is that x increases $1805.

Calculation:

The equation of MPS is as follows:

$MPS=yx$

Plug in the given values to evaluate y as shown below.

$0.14=y$18050.14($1805)=y$252.7=yy=$252.7$

Thus, the additional consumption saving of an average family increases by $$252.7$ .

Chapter 1.3, Problem 38E

Chapter 1.3, Problem 40E

Chapter 1 Solutions

Advanced Mathematical Concepts: Precalculus with Applications, Student Edition

Ch. 1.1 - Prob. 1CFU Ch. 1.1 - Prob. 2CFU Ch. 1.1 - Prob. 3CFU Ch. 1.1 - Prob. 4CFU Ch. 1.1 - Prob. 5CFU Ch. 1.1 - Prob. 6CFU Ch. 1.1 - Prob. 7CFU Ch. 1.1 - Prob. 8CFU Ch. 1.1 - Prob. 9CFU Ch. 1.1 - Prob. 10CFU

Ch. 1.1 - Prob. 11CFU Ch. 1.1 - Prob. 12CFU Ch. 1.1 - Prob. 13CFU Ch. 1.1 - Prob. 14CFU Ch. 1.1 - Prob. 15CFU Ch. 1.1 - Prob. 16CFU Ch. 1.1 - Prob. 17E Ch. 1.1 - Prob. 18E Ch. 1.1 - Prob. 19E Ch. 1.1 - Prob. 20E Ch. 1.1 - Prob. 21E Ch. 1.1 - Prob. 22E Ch. 1.1 - Prob. 23E Ch. 1.1 - Prob. 24E Ch. 1.1 - Prob. 25E Ch. 1.1 - Prob. 26E Ch. 1.1 - Prob. 27E Ch. 1.1 - Prob. 28E Ch. 1.1 - Prob. 29E Ch. 1.1 - Prob. 30E Ch. 1.1 - Prob. 31E Ch. 1.1 - Prob. 32E Ch. 1.1 - Prob. 33E Ch. 1.1 - Prob. 34E Ch. 1.1 - Prob. 35E Ch. 1.1 - Prob. 36E Ch. 1.1 - Prob. 37E Ch. 1.1 - Prob. 38E Ch. 1.1 - Prob. 39E Ch. 1.1 - Prob. 40E Ch. 1.1 - Prob. 41E Ch. 1.1 - Prob. 42E Ch. 1.1 - Prob. 43E Ch. 1.1 - Prob. 44E Ch. 1.1 - Prob. 45E Ch. 1.1 - Prob. 46E Ch. 1.1 - Prob. 47E Ch. 1.1 - Prob. 48E Ch. 1.1 - Prob. 49E Ch. 1.1 - Prob. 50E Ch. 1.1 - Prob. 51E Ch. 1.1 - Prob. 52E Ch. 1.1 - Prob. 53E Ch. 1.1 - Prob. 54E Ch. 1.1 - Prob. 55E Ch. 1.1 - Prob. 56E Ch. 1.1 - Prob. 57E Ch. 1.2 - Prob. 1GCE Ch. 1.2 - Prob. 2GCE Ch. 1.2 - Prob. 3GCE Ch. 1.2 - Prob. 4GCE Ch. 1.2 - Prob. 5GCE Ch. 1.2 - Prob. 1CFU Ch. 1.2 - Prob. 2CFU Ch. 1.2 - Prob. 3CFU Ch. 1.2 - Prob. 4CFU Ch. 1.2 - Prob. 5CFU Ch. 1.2 - Prob. 6CFU Ch. 1.2 - Prob. 7CFU Ch. 1.2 - Prob. 8CFU Ch. 1.2 - Prob. 9CFU Ch. 1.2 - Prob. 10CFU Ch. 1.2 - Prob. 11E Ch. 1.2 - Prob. 12E Ch. 1.2 - Prob. 13E Ch. 1.2 - Prob. 14E Ch. 1.2 - Prob. 15E Ch. 1.2 - Prob. 16E Ch. 1.2 - Prob. 17E Ch. 1.2 - Prob. 18E Ch. 1.2 - Prob. 19E Ch. 1.2 - Prob. 20E Ch. 1.2 - Prob. 21E Ch. 1.2 - Prob. 22E Ch. 1.2 - Prob. 23E Ch. 1.2 - Prob. 24E Ch. 1.2 - Prob. 25E Ch. 1.2 - Prob. 26E Ch. 1.2 - Prob. 27E Ch. 1.2 - Prob. 28E Ch. 1.2 - Prob. 29E Ch. 1.2 - Prob. 30E Ch. 1.2 - Prob. 31E Ch. 1.2 - Prob. 32E Ch. 1.2 - Prob. 33E Ch. 1.2 - Prob. 34E Ch. 1.2 - Prob. 35E Ch. 1.2 - Prob. 36E Ch. 1.2 - Prob. 37E Ch. 1.2 - Prob. 38E Ch. 1.2 - Prob. 39E Ch. 1.3 - Prob. 1CFU Ch. 1.3 - Prob. 2CFU Ch. 1.3 - Prob. 3CFU Ch. 1.3 - Prob. 4CFU Ch. 1.3 - Prob. 5CFU Ch. 1.3 - Prob. 6CFU Ch. 1.3 - Prob. 7CFU Ch. 1.3 - 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Prob. 9CFU Ch. 1.4 - Prob. 10CFU Ch. 1.4 - Prob. 11E Ch. 1.4 - Prob. 12E Ch. 1.4 - Prob. 13E Ch. 1.4 - Prob. 14E Ch. 1.4 - Prob. 15E Ch. 1.4 - Prob. 16E Ch. 1.4 - Prob. 17E Ch. 1.4 - Prob. 18E Ch. 1.4 - Prob. 19E Ch. 1.4 - Prob. 20E Ch. 1.4 - Prob. 21E Ch. 1.4 - Prob. 22E Ch. 1.4 - Prob. 23E Ch. 1.4 - Prob. 24E Ch. 1.4 - Prob. 25E Ch. 1.4 - Prob. 26E Ch. 1.4 - Prob. 27E Ch. 1.4 - Prob. 28E Ch. 1.4 - Prob. 29E Ch. 1.4 - Prob. 30E Ch. 1.4 - Prob. 31E Ch. 1.4 - Prob. 32E Ch. 1.4 - Prob. 33E Ch. 1.4 - Prob. 34E Ch. 1.4 - Prob. 35E Ch. 1.4 - Prob. 1MCQ Ch. 1.4 - Prob. 2MCQ Ch. 1.4 - Prob. 3MCQ Ch. 1.4 - Prob. 4MCQ Ch. 1.4 - Prob. 5MCQ Ch. 1.4 - Prob. 6MCQ Ch. 1.4 - Prob. 7MCQ Ch. 1.4 - Prob. 8MCQ Ch. 1.4 - Prob. 9MCQ Ch. 1.4 - Prob. 10MCQ Ch. 1.5 - Prob. 1CFU Ch. 1.5 - Prob. 2CFU Ch. 1.5 - Prob. 3CFU Ch. 1.5 - Prob. 4CFU Ch. 1.5 - Prob. 5CFU Ch. 1.5 - Prob. 6CFU Ch. 1.5 - Prob. 7CFU Ch. 1.5 - Prob. 8CFU Ch. 1.5 - Prob. 9CFU Ch. 1.5 - Prob. 10CFU Ch. 1.5 - Prob. 11CFU Ch. 1.5 - Prob. 12E Ch. 1.5 - 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Prob. 4CFU Ch. 1.7 - Prob. 5CFU Ch. 1.7 - Prob. 6CFU Ch. 1.7 - Prob. 7CFU Ch. 1.7 - Prob. 8CFU Ch. 1.7 - Prob. 9CFU Ch. 1.7 - Prob. 10CFU Ch. 1.7 - Prob. 11E Ch. 1.7 - Prob. 12E Ch. 1.7 - Prob. 13E Ch. 1.7 - Prob. 14E Ch. 1.7 - Prob. 15E Ch. 1.7 - Prob. 16E Ch. 1.7 - Prob. 17E Ch. 1.7 - Prob. 18E Ch. 1.7 - Prob. 19E Ch. 1.7 - Prob. 20E Ch. 1.7 - Prob. 21E Ch. 1.7 - Prob. 22E Ch. 1.7 - Prob. 23E Ch. 1.7 - Prob. 24E Ch. 1.7 - Prob. 25E Ch. 1.7 - Prob. 26E Ch. 1.7 - Prob. 27E Ch. 1.7 - Prob. 28E Ch. 1.7 - Prob. 29E Ch. 1.7 - Prob. 30E Ch. 1.7 - Prob. 31E Ch. 1.7 - Prob. 32E Ch. 1.7 - Prob. 33E Ch. 1.7 - Prob. 34E Ch. 1.7 - Prob. 35E Ch. 1.7 - Prob. 36E Ch. 1.7 - Prob. 37E Ch. 1.8 - Prob. 1CFU Ch. 1.8 - Prob. 2CFU Ch. 1.8 - Prob. 3CFU Ch. 1.8 - Prob. 4CFU Ch. 1.8 - Prob. 5CFU Ch. 1.8 - Prob. 6CFU Ch. 1.8 - Prob. 7CFU Ch. 1.8 - Prob. 8CFU Ch. 1.8 - Prob. 9E Ch. 1.8 - Prob. 10E Ch. 1.8 - Prob. 11E Ch. 1.8 - Prob. 12E Ch. 1.8 - Prob. 13E Ch. 1.8 - Prob. 14E Ch. 1.8 - Prob. 15E Ch. 1.8 - Prob. 16E Ch. 1.8 - 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Prob. 36SGA Ch. 1 - Prob. 37SGA Ch. 1 - Prob. 38SGA Ch. 1 - Prob. 39SGA Ch. 1 - Prob. 40SGA Ch. 1 - Prob. 41SGA Ch. 1 - Prob. 42SGA Ch. 1 - Prob. 43SGA Ch. 1 - Prob. 44SGA Ch. 1 - Prob. 45SGA Ch. 1 - Prob. 46SGA Ch. 1 - Prob. 47SGA Ch. 1 - Prob. 48SGA Ch. 1 - Prob. 49SGA Ch. 1 - Prob. 50SGA Ch. 1 - Prob. 51SGA Ch. 1 - Prob. 52SGA Ch. 1 - Prob. 53SGA Ch. 1 - Prob. 54SGA Ch. 1 - Prob. 55SGA Ch. 1 - Prob. 56SGA Ch. 1 - Prob. 57SGA Ch. 1 - Prob. 58SGA Ch. 1 - Prob. 59SGA Ch. 1 - Prob. 60SGA Ch. 1 - Prob. 61SGA Ch. 1 - Prob. 62SGA Ch. 1 - Prob. 63SGA Ch. 1 - Prob. 64SGA Ch. 1 - Prob. 65SGA Ch. 1 - Prob. 66SGA Ch. 1 - Prob. 67SGA Ch. 1 - Prob. 68SGA Ch. 1 - Prob. 69SGA Ch. 1 - Prob. 1SAP Ch. 1 - Prob. 2SAP Ch. 1 - Prob. 3SAP Ch. 1 - Prob. 4SAP Ch. 1 - Prob. 5SAP Ch. 1 - Prob. 6SAP Ch. 1 - Prob. 7SAP Ch. 1 - Prob. 8SAP Ch. 1 - Prob. 9SAP Ch. 1 - Prob. 10SAP

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