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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Principles Of Microeconomics
ISBN: 9780691150093
13th Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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