ECN 351 Topic 2 Discussions GCU
ECN 351 Topic 2 DQ 1
Explain the difference between change in quantity demanded and a shift in demand. What causes changes in quantity demanded? What causes a shift in demand?
ECN 351 Topic 2 DQ 2
Adam and Barb go to the store to purchase some lottery tickets. Without looking at the price, Adam says “I’ll take 10 lottery tickets,” and Barb says “I’ll take $10 worth of lottery tickets.” What is each person’s price elasticity of demand for lottery tickets?