Activity 2: Analysis of Demand Directions: Below is the demand schedule for hamburgers. Use

Question: Activity 2: Analysis of Demand Directions: Below is the demand schedule for hamburgers. Use this demand schedule for activity 2.1 and 2.2. Quantity Demanded Price (peso per unit) (units per week) 0 100.000 10 90,000 20 80,000 30 70.000 40 60.000 50 50.000 60 40.000 70 30,000 80 20,000 90 10.000 100 0 1. Graph the movement along the demand curve when the
Show transcribed image text1. movement along the demand curve 2. Shift in demand curve 3. Yes it violates the law of demand where less quantity of…View the full answerTranscribed image text: Activity 2: Analysis of Demand Directions: Below is the demand schedule for hamburgers. Use this demand schedule for activity 2.1 and 2.2. Quantity Demanded Price (peso per unit) (units per week) 0 100.000 10 90,000 20 80,000 30 70.000 40 60.000 50 50.000 60 40.000 70 30,000 80 20,000 90 10.000 100 0 1. Graph the movement along the demand curve when the price of hamburgers falls from P/60 to P/40 per unit. Explain the movement of the demand curve 2. Graph the shifts of the demand curve when the buyer would choose to buy 70,000 instead of 60,000 hamburgers at price P/40. Explain the shift of the demand curve. 3. The law of demand holds that people buy more at lower prices than a higher price. But some goods are bought largely because they have “snob appeal.” For example, some students in your school gain prestige by buying expensive brand name items. Does knowingly buying an item because it is expensive violate the law of demand?