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1. Feeling guilty for not remembering his anniversary, Mr. Ventura ran to the store to buy chocolates and flowers for his wife. Since it is
1. Feeling guilty for not remembering his anniversary, Mr. Ventura ran to the store to buy chocolates and flowers for his wife. Since it is Valentine's day, businesses increased the price of these items, making Mr. Ventura spend 80 dlls.
a. Was there a change in quantity demanded or in demand? Explain.
Change in demand, it was valentine's day everyone was buying those products more than usual.
b. If the curve shifts, does it shift to the left or to the right?
Shifts to the right
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