The fee to set up a ceremony is $1,000 with reception rental or $1,500 for ceremony only. The venue allows 5 hours of event time excluding set up and clean up time. The average wedding cost at The Sky Room is estimated at between $10,810 and $19,717 for a ceremony & reception for 100 guests.
Consumption Schedule. The average propensity to consume is calculated by dividing consumption in the second column by income in the first column. Beginning near the top of the schedule, if household income is $1 trillion, then consumption is $1.75 trillion, giving an average consumption of 1.75.
The marginal propensity to consume (MPC) is the change in consumption divided by the change in dis-posable income. It is a fraction of any change in DI that is spent on consumer goods: MPC = âC / âDI. The marginal propensity to save (MPS) is the fraction saved of any change in disposable income. The MPS is equal to the change in saving divided by the change in DI: MPS = âS / âDI. 3. Using the data in Figure 20.2, calculate the MPC and MPS at each level of disposable income.