Question

explain the difference between a change in quantity demanded and a change in demand

explain the difference between a change in quantity supplied and a change in Supply

if Mary's demand for a $5 cup of coffee is 2 cups of coffee and wings demand $45 cup of coffee is 3 cups of coffee what is the market demand for a $5 cup of coffee

what is the law of demand state

what is the relationship between price and quantity supplied

explain how each of the events affect Supply or the demand for pizza

the price of mozzarella increases

health hazards of hamburgers are widely publicized

the price of a tomato sauce Falls

the incomes of consumers rise and pizza is a normal good

consumers expect the price of pizza to fall next week

Answer 1

Change in quantity demanded or change in quantity supplied means that we are moving along the demand or supply curve. However a change in demand or supply means the curve itself has shifted.2) By horizontal summation, total market demand at $5 is 5 cups(3+2)

3) the law of demand states that if the demand for a good increases with increasing income, then there is an inverse relationship between quantity demanded and price.( Q is inversely related to P)

4) the law of supply states that there is a positive relationship between quantity supplied and price.

5) if the price of mozzarella increases, the supply curve will shift to the left, that is at any price, quantity supplied will be reduced. The demand remains the same.

6) the demand will decrease if the health hazards of Hamburger are reported, hence equilibrium price and quantity will decrease.

7) price of tomato sauce affects the demand as sauce is a complementary good.

8) increase in income increases the demand and shifts the demand curve to the right.