The demand and supply schedules for pizza are in the table above. A price ceiling of $2 per slice results in

A) a surplus of 20 slices of pizza.
B) a shortage of 20 slices of pizza.
C) a shortage of 40 slices of pizza.
D) a shortage of 60 slices of pizza.
E) neither a shortage nor a surplus.


B

Economics

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Indicate whether the statement is true or false

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Perfect competition and monopolistic competition are similar in that firms in both types of market structure will

A) act as price takers. B) produce a level of output where price equals marginal cost. C) earn zero profit in the long run. D) act as price setters.

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The same size decrease in the amount of capital stock per worker will cause output per worker to fall by more in a country with a relatively high level of capital per worker than in a country with a relatively low level of capital per worker

a. True b. False Indicate whether the statement is true or false

Economics