The expenditure of a household on consumer goods, C, is related to the household's income, Y, in the following way: When the household's income is Php60,000, the expenditure on consumer goods is Php44,000, and whenever the income increases by Php1,000, the expenditure on consumer goods increases by Php700. a. Express the expenditure on consumer goods as a function of income, assuming a linear relationship. b. How much would the household's expenditure when the income is Php 56,000 Please show your solution and write readable thanks.
The expenditure of a household on consumer goods, C, is related to the household's income, Y, in the following way: When the household's income is Php60,000, the expenditure on consumer goods is Php44,000, and whenever the income increases by Php1,000, the expenditure on consumer goods increases by Php700. a. Express the expenditure on consumer goods as a function of income, assuming a linear relationship. b. How much would the household's expenditure when the income is Php 56,000 Please show your solution and write readable thanks.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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The expenditure of a household on consumer goods, C, is related to the household's income, Y, in the following way:
When the household's income is Php60,000, the expenditure on consumer goods is Php44,000, and whenever the income increases by Php1,000, the expenditure on consumer goods increases by Php700.
a. Express the expenditure on consumer goods as a function of income, assuming a linear relationship.
b. How much would the household's expenditure when the income is Php 56,000
Please show your solution and write readable thanks.
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