2. It is assumed that consumption C depends on income Y and that this relationship takes the form of the linear function C= a + bY. When Y is GH¢600, C is observed to be GH¢660. When Y is 1,000, C is observed to be GH¢900. What are the values of a and b in this function? Express C in terms of Y only. Find the consumption if a family's income is GH¢1,200.
2. It is assumed that consumption C depends on income Y and that this relationship takes the form of the linear function C= a + bY. When Y is GH¢600, C is observed to be GH¢660. When Y is 1,000, C is observed to be GH¢900. What are the values of a and b in this function? Express C in terms of Y only. Find the consumption if a family's income is GH¢1,200.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CT: Test
Problem 19CT
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