Value of MPC when MPS is zero
Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Determine the value of MPC whenever MPS is zero?
Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Describe when there will be a surplus of the good?
What do you mean by the term Competitive market?
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
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