Problem1 what is the difference between a change in demand, Ask an Expert

Economics

Problem

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

2. Explain why a supply curve slopes upward.

3. In each of the following examples, name the factor that affects supply and describe its impact on the supply of cell phones.

a. Economic forecasts suggest that the demand for cell phones will increase in the future.

b. The price of plastic goes up.

c. A new screen technology reduces the cost of making cell phones.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92756151

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