Suppose you’re collecting data on hamburger consumption in Lubbock. You have the following two data points: At a price of $3 per hamburger, 5000 hamburgers are consumed per week, and at a price of $3.50, 6000 hamburgers are consumed per week. Provide a graphical interpretation of this data that is not consistent with the first law of demand. Provide a graphical interpretation of this data that is consistent with the first law of demand.

Q&A Education