If the marginal propensity to consume is 0.6 and consumption expenditure changes by N10 million; the equilibrium level of income will change by?

by | Oct 26 | Economics JAMB | 0 comments

A. N4.0 milion
B. N25. 0 milion
C. N2.5 milion
D. N15.0 milion

Correct Answer:

Option B – N25. 0 milion

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