An economics question: How to find the MPC, MPS APC, APS, LC AND LS?

C

Corissa

New member
Suppose the linear equation for consumption in a hypothetical economy is C=40+.8Y Also suppose Y = 400 Determine:
a. The Marginal propensities to consume and to save ( MPC & MPS)
b. The Average propensities to consume and save (APC & APS)
c. The levels of consumption ans saving (LS & LC)

I was wondering if i could have what is needed to be done in this question explained since i don't really know what to do nor how to start
 
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