This topic contains a solution. Click here to go to the answer

Author Question: The above figure shows a graph of the market for pizzas in a large town. No pizzas will be demanded ... (Read 761 times)


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514


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




crobinson2013

  • Hero Member
  • *****
  • Posts: 535


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

  • Sr. Member
  • ****
  • Posts: 344
The quantity supplied equals the quantity demanded.




Ashley I

  • Sr. Member
  • ****
  • Posts: 344

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071


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




 

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library