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.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text: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.
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