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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

Make up an example of a monthly demand schedule for pizza, 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 pizza shift this demand curve?

To determine

Monthly demand schedule.

Explanation

Table -1 shows the demand schedule.

Table 1

PriceQuantity demanded of pizza (in no. of slices)
$  0.0010
0.259
0.508
0.757
1.006
1.255
1.504
1.753
2.002
2.251
2.500

Table 1 shows a monthly demand schedule of pizza. Using Table 1, the demand curve is graphed as shown in Figure 1.

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