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Below is a graphical representation of the consumption function: 1) Properly label the axes. 2) Apply the following (consumption) function: C=Co + bYd. 3) Decompose
Below is a graphical representation of the consumption function:
1) Properly label the axes.
2) Apply the following (consumption) function: C=Co + bYd.
3) Decompose the function from question 2.
4) With the above diagram how would you "show" a:
a. ?Yd:
b. ?b:
c. ?Co
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