Question: 9. Given the linear equation: Consumption = 100 + 0.25 (Income) a) Identify the dependent and independent variable? Dependent - 100.25 (Consumption) Independent - 0.25

9. Given the linear equation: Consumption = 100 + 0.25 (Income) a) Identify the dependent and independent variable? Dependent - 100.25 (Consumption) Independent - 0.25 (Income) b) How much is consumption when income is zero? c) If one's income was $2,000, what is their estimated consumption? 10. Given a demand curve: P = 120 - 2Q and a supply curve of P = 20 + 3Q, where P is the price of the good and Q is the quantity. Set the two equations equal and solve for the equilibrium P and Q

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