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Data on before-tax income, taxes paid, and consumption spending for the Simpson family in various years are given below: Before-tax Taxes Consumption income($) paid($) spending($)

Data on before-tax income, taxes paid, and consumption spending for the Simpson family in various years are given below:

Before-tax

Taxes

Consumption

income($)

paid($)

spending($)

25000

3000

20000

27000

3500

21350

28000

3700

22070

30000

4000

23600

  1. Graph the Simpsons' consumption function and find their household's marginal propensity to consume.
  2. What is the autonomous consumption amount?
  3. How much would you expect the Simpsons to consume if their income was $32,000 and they paid taxes of $5,000?

Please help me answer these questions above! Thank you so much!

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