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Explain whether each of the following statements describes a change in demand or a change in quantity demanded, and specify whether each change represents an

Explain whether each of the following statements describes a change in demand or a change in quantity demanded, and specify whether each change represents an increase or a decrease. For each of the five statements (a-e) draw a demand curve representing the appropriate change in quantity demanded or change in demand.

  1. JP Licks experience a 10% decline in ice-cream sales following a 15% price increase.
  2. Rebecca switches jobs and lands a 20% salary increase; she decides to reward herself by purchasing iphone 14 Pro.
  3. When the price of peaches unexpectedly rises, many consumers choose to purchase plums instead.
  4. Due to privacy concerns with its camera system, Tesla has experienced a decline in sales of its cars.
  5. Maria, an accountant at a manufacturing firm decides to forego her annual vacation in Hawaii when word leaks out that management may cut salaries.

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