1)Distinguish between a "Change in Quantity Demanded" and a "Change in Demand."Include diagrams in your answer... (5 marks)

2)A market researcher is collecting information on the demand for "Big Macs"each month and has interviewed four consumers:Amy,Davinder, Mu Ying and Gustavo. Their demand schedules are shown below:

Price (P)...............................Amy's Qd..............Davinder'sQd.................Mu Ying'sQd.............Gustavo's Qd

$4.00.........................................0..................................2......................................1.................................0

3.50.........................................1..................................3......................................2.................................0

3.00.........................................1..................................5......................................3.................................1

2.50.........................................2..................................6......................................4.................................1

2.00.........................................4..................................7......................................5.................................2

Question:

Assuming that these four consumers make up the market for Big Macs, draw a diagram of the market demand curve for Big Macs...(4 marks)