Which of the following is a reason for a decrease in the average propensity to consume with an increase in income? a. The amount of savings represents only a small portion of income. b. The cost of necessities represents only a small portion of income. c. The expenditure on luxury goods represents only a small portion of income. d. The amount of savings decreases, and the consumption of necessities increases. e. The expenditure on luxury goods increases, and the amount of savings decreases
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