Which of the following is true of long-run consumption functions?
a. Autonomous consumption is equal to zero in the long-run.
b. The long run consumption functions are steeper than short run consumption functions.
c. The marginal propensity to consume for the long run consumption function is almost equal to zero.
d. The autonomous consumption is negative in long run consumption functions.
e. The long run consumption function is represented by a straight line parallel to the horizontal axis.
b
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What will be an ideal response?
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