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The marginal propensity to consume (MPC) is the change in consumption (ΔC) divided by the change in income (ΔY). Mathematically, [ MPC = \frac{\Delta C}{\Delta Y} ] The average propensity to consume (APC) is the ratio of consumption (C) to income (Y): [ APC = \frac{C}{Y} ] Assume _________ _________ ______ ___ _______ _______ ___ ______ ________ ____.
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