Multiple Choice
Assume a household would consume $100 worth of goods and services per week if its weekly income were zero and would spend an additional $80 per week for each $100 of additional income.Letting C represent consumption and Y represent income, the equation that summarizes this relationship is
A) C = 80 + 100Y.
B) C = 100 + .8Y.
C) C = 100 + 80Y.
D) C = 80 + .1Y.
Correct Answer:

Verified
Correct Answer:
Verified
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