The population of the Czech Republic is ageing quickly and the old, who spent a relatively small proportion of each new crown (their monetary unit) of income, are being replaced by the young who spend a relatively larger proportion of their income. Older citizens also have different fixed consumption expenditures than in their younger days.Illustrate on a graph of planned expenditures how various changes in the components of consumption behavior of Czech consumers can/will affect the consumption function and thus equilibrium output.Explain why the graph changes if consumption changes, and illustrate the effect on equilibrium output.Would it be possible for young Czechs to both spend a larger proportion of each new dollar of income and still save in the same proportion as their elders?Explain.