Consider the given consumption function of country X and answer the following question.
C = 100 + 0.8Y
What is the value of autonomous consumption (A) and marginal propensity to consume (MPC) in the given equation?
1
A = 0.8, MPC = 100
2
A = 100, MPC = 80
3
A = 80, MPC = 0.10
4
A = 100, MPC = 0.8