Question: ADVANCED ANALYSIS Suppose that the linear equation for consumption in a hypothetical economy is C = 40 + 0.7 Y. Also suppose that income (

ADVANCED ANALYSISSuppose that the linear equation for consumption in a hypothetical economy is

C= 40 + 0.7Y.

Also suppose that income (Y) is $400.Determine the following values:

Instructions:For parts a, b, d, and f, round your answers to 2 decimal places if necessary. For parts c and e, enter your answers as a whole number.

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