Answer to Question #236554 in Microeconomics for raksh

Question

1 Make up an example of a monthly demand schedule for burgers and

graph the implied demand curve. 

Give an example of something that would shift

this demand curve, and briefly explain your reasoning. 

 Would a change in the price

of burger shift this demand curve?  

Answer 1

Change in price of related good like pizza can shift the demand curve of burger. An increase in price of pizza may lead to an increase in demand for burger.

The amount of disposable income also shifts the demand curve. For instance, an increase in disposable income increases demand for burger.

Thirdly, the quality of the burger shifts its demand curve. Low quality decreases the demand while high quality increases demand making the curve to shift to the right.

Yes a shift in price of burger shifts the demand curve such that increase in price shifts the curve to left and decrease in price shifts the curve to the right.