Question: Demand Worksheet Student Alert: The distinction between a change in demand and a change in quantity demanded is very important! Study the data in table

Demand Worksheet Student Alert: The distinction between a "change in demand" and a "change in quantity demanded" is very important! Study the data in table below, and plot the demand of Greebes on the graph below. Label the demand curve "D" and answer the questions that follow. Demand for Greebes Demand for Greebes Quantity demanded $0.55 Price per week $0.50 (per Greebe) (millions of Greebes) $0.45 W $0.40 $0.10 350 $0.35 $0. 15 300 $0.30 $0.25 $0.20 250 $0.20 PRI $0. 15 $0.25 200 $0. 10 $0.30 150 $0.05 $0.00 $0.35 100 50 100 150 200 250 300 350 400 QUANTITY PER WEEK (millions of Greebes) $0.40 50 $0.45 0 1. The data for demand curve D indicate that at a price of $0.30 per Greebe, buyers would be willing to buy million Greebes. All other things held constant, if the price of Greebes increased to $0.40 per Greebe, buyers would be willing to buy million Greebes. Such a change would be a decrease in All other things held constant, if the price of Greebes decreased to $0.20, buyers would be willing to buy million Greebes. Such a change would be called an increase in
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