I know we've gone over this in class, but I am still confused, especially when it comes to the graphs. My question is can quantity demanded, demand, and quantity supplied change or is one of those stationary? I thought we said something in class along the lines of one of them not ever changing.
I like to think of it like this, the only way quantity demanded or quantity supplied changes, is when price changes. For price to change, there has to be a change in supply or demand. If supply is reduced, resulting in a higher price, quantity demanded decreases, but demand is still the same. Drop by my office if you needed further help where we can draw some graphs.