Question: 1. What is the difference between a change in demand and a change in quantity demanded? Explain your answer with a demand curve graphically. 2.

1. What is the difference between a "change in demand" and a "change in quantity demanded?"

Explain your answer with a demand curve graphically.

2. For each of the following changes, determine whether there will be a change in quantity demanded or a change in demand.

A. a change in the price of a related good

B. a change in tastes

C. a change in price

D. a change in consumer expectations

E. a change in income

3. Find the price elasticity of demand: when price went up from $3 to $4, Qd decreases from 90 cups to 70 cups.

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