What is quot mpc quot or the 39 marginal propensity to consume 39 ........

Economics- Phase (I & II) Consumption Function

What is "mpc" or the 'marginal propensity to consume'?

the proportion of total additional planned savings to total additional income

the proportion of total additional income to total additional planned savings

the fraction of total additional income that is used for consumption

none of the above

the fraction of total additional income that is used for consumption

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