Question 104721: Could you please help me to solve this problem?
Suppose national consumption, C, is $18 billion when disposable income, x, is $12 billion, and is $24 billion when disposable income is $18 billion. Assume that national consumption is linear where C is a function of x and write the national consumption function.
Answer by edjones(8007)   (Show Source):
You can put this solution on YOUR website! (x,y)
(12,18)
(18,24)
There are your 2 points for your linear graph. put them on graph paper and draw a straight line. Don't forget to label in billinns of dollars.
It should look like this.
Ed
| Solved by pluggable solver: FIND EQUATION of straight line given 2 points |
hahaWe are trying to find equation of form y=ax+b, where a is slope, and b is intercept, which passes through points (x1, y1) = (12, 18) and (x2, y2) = (18, 24).
Slope a is  .
Intercept is found from equation  , or  . From that,
intercept b is  , or  .
y=(1)x + (6)
Your graph:
|
|
|
|
