Refer to the information provided in Table 21.4 below to answer the questions that follow.
Table 21.4

-Refer to Table 21.4. Which of the following consumption functions best fits the values in the table?

Question

Refer to the information provided in Table 21.4 below to answer the questions that follow.
Table 21.4
 
-Refer to Table 21.4. Which of the following consumption functions best fits the values in the table?

Quizplus · Accepted Answer

The consumption function C = 3 + 0.75Y best fits the values in the table as it accurately represents the relationship between consumption (C) and income (Y) with a marginal propensity to consume of 0.75 and a base consumption level of 3.

Refer to the Information Provided in Table 21