Quantity demanded for food has increased or decreased

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The University Hall has undergone an extensive remodel that resulted in better premises to purchase and consume food. Students appreciate the remodel and are more likely to spend time at the Hall than before. Food prices after the remodel have increased by 5% on average. With the aid of a graph, explain how these changes may have affected the demand for food and the quantity demanded of food at the Hall. Be specific and make sure you make the difference between movements along the demand curve and shifts of the demand curve. Can you say for sure whether the quantity demanded for food has increased or decreased?

Reference no: EM131095919

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