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QUESTION
increases from $50,000 to $60,000, and as a result, its consumption increases from $45,000 to $51,000, then what is the slope of its savings function?...
If a household's income increases from $50,000 to $60,000, and as a result, its consumption increases from $45,000 to $51,000, then what is the slope of its savings function? (Assume no taxes.)
0.6
0.15
0.85
0.4
