Consumption 58231

Assume that consumption C depends on income y according to the function C = a + by, where a and b are parameters. The slope of this function is 0.8, and c is €50 when Y is €30. Does it apply to the values ​​of parameters a and b?

Correct answer:

b =  0.8
a =  26

Step-by-step explanation:

C = a + by  50=a+b 30 50=a+0.8 30  a=26  a=126=26  a=26

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