Answer: 12750
Explanation:
According to the information provided, Jake’s Cabins is a modest motel chain located close to the national parks in Utah, Wyoming, and Montana, and the recorded data for guest nights in June is as follows:
4400, 3600, 2250, 2400, and 100.
To calculate the total guest nights for June, we will sum these amounts. This calculation results in:
= 4400 + 3600 + 2250 + 2400 + 100
= 12750
Thus, the total guest nights for June amount to 12750
Answer:The marginal propensity to consume (MPC) is 0.65
The multiplier or k = 2.85714 rounded to 2.86
Explanation:
The MPC pertains to the fraction of additional disposable income that consumers choose to spend. It is used to gauge the consumption increase driven by rising income.
MPC can be calculated as follows,
MPC = Change in consumption / change in income
MPC = 0.65 / 1
MPC = 0.65
To derive the multiplier, we apply this formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.65)
k = 2.85714 rounded to 2.86
