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In the context of the consumption function, what does the term "average propensity to consume" (APC) refer to?a)The proportion of income that is saved.b)The proportion of income that is consumed.c)The slope of the saving function.d)The change in consumption due to a change in income.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In the context of the consumption function, what does the term "average propensity to consume" (APC) refer to?a)The proportion of income that is saved.b)The proportion of income that is consumed.c)The slope of the saving function.d)The change in consumption due to a change in income.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the context of the consumption function, what does the term "average propensity to consume" (APC) refer to?a)The proportion of income that is saved.b)The proportion of income that is consumed.c)The slope of the saving function.d)The change in consumption due to a change in income.Correct answer is option 'B'. Can you explain this answer?.

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