1. What is the difference between Demand and Quantity Demanded?
2. Consumer demand—level and price sensitivity—depends on personal income and other characteristics that influence desire for a product?
3 Based on your plotted demand curves, what can you say about Weekday vs. Weekend demand?
4. Universal’s variable cost to rent a car is $15. Assume the fleet size is fixed at 21,666. How many cars would you be willing to rent at a price of $10? $20? $50?