Question on: JAMB Economics - 2023
The marginal propensity to consume is
A
Coefficient c in the equation C = C + cYd
B
ΔC/ΔY
C
The slope of the consumption function
D
All of the above
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Correct Option: D
The marginal propensity to consume (MPC) is represented by the coefficient "c" in the equation C = C + cYd. It is also equal to ΔC/ΔY, representing the ratio of the change in consumption to the change in income.
Additionally, the slope of the consumption function, represented by "c" in C = C + cYd, is another way to express the MPC.
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