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QUESTION
On the accompanying graph, draw the consumption function C = $100 + 0.8YD. a) At what level of income do households begin to save?
On the accompanying graph, draw the consumption function C = $100 + 0.8YD. a) At what level of income do households begin to save? Designate that point on the graph with the letter A. billion b) By how much does consumption increase when income rises $200 beyond point A? Designate this new level of consumption with point B.
