1. Assume that in Table 2.1 the total market demand for potatoes increases by 20 per cent at each price – due, say, to substantial increases in the pr
1. Assume that in Table 2.1 the total market demand for potatoes increases by 20 per cent at each price – due, say, to substantial increases in the prices of bread and rice. Plot the old and the new demand curves for potatoes. Is the new curve parallel to the old one?
\r\n2. The price of strawberries rises and yet it is observed that the sales of strawberries increase. Does this mean that the demand curve for blueberries is upward sloping? Explain.