The above figure shows a graph of the market for pizzas in a ...

[panfilo]

Thanks

[mistyjohnson]

Welcome

[vHAUNG6011]

The above figure shows a graph of the market for pizzas in a large town. What are the equilibrium price and quantity?
◦ p = 8, Q = 60
◦ p = 10, Q = 40
◦ p = 7, Q = 70
◦ p = 7, Q = 40

[ttt030911]

p = 8, Q = 60

[crobinson2013]

The figure above shows a graph of the market for pizzas in a large town. What characterizes the equilibrium in this market?
◦ There is excess supply at the equilibrium price of $7.
◦ The quantity supplied equals the quantity demanded.
◦ Supply equals demand.
◦ The government has selected the appropriate price for pizzas.

[Ashley I]

The quantity supplied equals the quantity demanded.

[crobinson2013]

Excellent

[Ashley I]

Great! Please up vote

[Hungry!]

The above figure shows a graph of a market for pizzas in a large town. At a price of $7, what is the amount of excess demand?
◦ 0; there is excess supply at $7.
◦ 20 units
◦ 10 units
◦ 30 units

[31809pancho]

30 units