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Explain the difference between change in quantity demanded

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ECN 351 Topic 2 Discussions GCU

ECN 351 Topic 2 DQ 1

Explain the difference between change in quantity demanded and a shift in demand. What causes changes in quantity demanded? What causes a shift in demand?

ECN 351 Topic 2 DQ 2

Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says “I’ll take 10 lottery tickets,” and Barb says “I’ll take $10 worth of lottery tickets.” What is each person’s price elasticity of demand for lottery tickets?

 

 

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