Suppose a certain economy's consumption function is as follows, where C(x) and x are measured in billions of dollars.

Question

C(x) = 0.76x^1.1 + 18.19
Find the marginal propensity to consume (dC/dx) when x = 7. (Round your answer to three decimal places.)

Answer 1

d(C(x))/dx = .836x^.1

when x = 7 , I get 1.01558...
or 1.016 , correct to 3 decimals