Question: Intro to Demand Student Practice Directions: Examine the graph below. Then, answer the questions that follow. Demand Schedule for Books Price per Quantity 18 Book

Intro to Demand Student Practice Directions: Examine the graph below. Then, answer the questions that follow. Demand Schedule for Books Price per Quantity 18 Book Demanded 16 USD) (in millions 14 17 100 12 16 200 g 10 15 300 8 14 400 13 500 12 600 11 700 o 10 800 200 400 600 800 1000 1200 9 90 Quantity Demanded 1000 1. What is the demand curve and who does it represent? Answer: 2. What is the difference between demand (the demand curve) and quantity demanded? Answer: 3. Why is the demand curve for books downward sloping? Answer: 4. If the price of a book changes from $10 to $9, how much does quantity demanded increase? Answer : 5. If the price of a book changes from $14 to $16, how much does quantity demanded decrease? Answer: 6. Explain your answer to #5 using the Law of Demand in your response. Answer: Mrs. P's Interactive Classroom 2018

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