Examlex
An apple orchard has an average yield of 48 bushels of apples/tree if tree density is 26 trees/acre. For each unit increase in tree density, the yield decreases by 3 bushels. How many trees should be planted in order to maximize the yield?
Autonomous Consumption
The level of consumption that occurs when income is zero, representing basic necessities that individuals will purchase regardless of their income.
APC
It is defined as the proportion of income that goes into consumption expenses, termed as the Average Propensity to Consume.
Disposable Income
Fiscal assets at households' disposal for spending and saving after income taxes have been subtracted.
Consumption
Households' utilization of both products and services.
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