Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $12, the price will
A. increase because there is an excess demand in the market.
B. decrease because there is an excess supply in the market.
C. decrease because there is an excess demand in the market.
D. remain constant because the market is in equilibrium.
Answer: B
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Fill in the blank(s) with correct word
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a. True b. False Indicate whether the statement is true or false