CBSE 2017 Class 12 Economics Outside Delhi Set-1

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Question : 2
Total: 18
Define marginal propensity to consume.
Solution:  
MPC is the ratio of change in consumption to change in income. Symbolically,
MPC=‌
∆C
∆Y

Where, ∆C=‌ change in consumption ‌
∆Y= change in income
MPC = Marginal propensity to consume.
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