Answer Parts (A)-(E)below on the Basis of the Following Table

question 34

Essay

Answer parts (a)-(e)below on the basis of the following table.
$$\begin{array} { | r | r | r | c | } \hline \begin{array} { c } \text { Income } \\( Y )\end{array} & \begin{array} { c } \text { Change } \\\text { in } \\\text { Income }\end{array} & \begin{array} { c } \text { Aggregate } \\\text { Expenditures }\end{array} & \begin{array} { c } \text { Change in } \\\text { AgEegate } \\\text { Exgenditures }\end{array} \\\hline 0 & & 500 & \\\hline 500 & & 950 & \\\hline 1,000 & & 1,400 & \\\hline 1,500 & & 1,850 & \\\hline 2,000 & & 2,300 & \\\hline 2,500 & & 2,750 & \\\hline 3,000 & & 3,200 & \\\hline\end{array}$$ (a)Fill in columns (2)and (4).
(b)What is the value of autonomous expenditures?
(c)What is the mpe?
(d)What is the AE equation?
(e)Draw a picture of the AE curve.

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Definitions:

Explanatory Variable

A type of independent variable that is manipulated to determine its relationship with observations in an experiment or study.

Explanatory Variable

A variable that is manipulated or categorized to observe its effect on a response variable.

Gross Sales

The total revenue generated from sales before any deductions are made for returns, discounts, or allowances.

Response Variable

The outcome variable on which comparisons are made, often dependent on the predictor or independent variables in a study.