(Table) the Following Table Shows Data on Consumption at Various

question 176

Multiple Choice

(Table) The following table shows data on consumption at various levels of income. $$\begin{array} { r c } \text { Income } & \text { Consumption } \\\$ 0 & \$ 250 \\\$ 500 & \$ 700 \\\$ 1,000 & \$ 1,150 \\\$ 1,500 & \$ 1,600 \\\$ 2,000 & \$ 2,050 \\\$ 2,500 & \$ 2,500\end{array}$$ The value of the MPC is:

• A) 0.25.
• B) 0.75.
• C) 0.80.
• D) 0.90.

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Definitions:

Attitudes Toward Luxury

The perceptions and feelings individuals have regarding luxury goods and services, which can influence their purchasing behavior.

Consumer Behaviour

The study of how individual customers, groups, or organizations select, buy, use, and dispose goods, services, ideas, or experiences.

China

A country located in East Asia, the world's most populous country, with a rich history, culture, and one of the largest economies globally.

Social Class

Social class refers to the division of society into groups based on socio-economic status, often influencing individuals' opportunities, behavior, and lifestyle.