4.1 The data in the table below was used to estimate the following consumption function: C =...
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4.1 The data in the table below was used to estimate the following consumption function: C = 10 + 0.5Y On a graph, draw the consumption function and plot the points from the table. Calculate the “error” for each point in the table, and then calculate the SUM from your
“error” calculations.
Point Aggregate income (Y)
Aggregate Consumption (C)
A 10 13 B 20 23 C 30 30 D 40 32 E 50 33 F 60 44
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Related Book For
Principles Of Microeconomics
ISBN: 9789813107342
12th Global Edition
Authors: Karl E. Case, Sharon E. Oster, Ray C. Fair
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