the value for the multiplier is given to be 12. calculate both the mps and the mpc. the value of the mps is…

the value for the multiplier is given to be 12. calculate both the mps and the mpc. the value of the mps is . (enter your response rounded to two decimal places.)

the value for the multiplier is given to be 12. calculate both the mps and the mpc. the value of the mps is . (enter your response rounded to two decimal places.)

Answer

Explanation:

Step1: Recall the multiplier formula

The multiplier ($k$) formula is $k=\frac{1}{MPS}$. Given $k = 12$.

Step2: Solve for MPS

We can rewrite the formula as $MPS=\frac{1}{k}$. Substituting $k = 12$ into the formula, we get $MPS=\frac{1}{12}\approx0.08$.

Step3: Recall the relationship between MPS and MPC

We know that $MPC + MPS=1$, so $MPC = 1 - MPS$.

Step4: Calculate MPC

Substitute $MPS\approx0.08$ into the formula, $MPC=1 - 0.08 = 0.92$.

Answer:

The value of the MPS is $0.08$. The value of the MPC is $0.92$.