The demand and supply schedules for pizza are in the table above. A price ceiling of $4 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.
E
You might also like to view...
Who benefits primarily from rent controls?
A) construction workers B) poor people looking for low-income housing C) all who want to rent D) only renters who are able to get units at below-market rates
In addition to investment in physical and human capital, what other public policies might a country adopt to increase productivity?
For a perfectly competitive firm, the value of the marginal product of labor falls as more workers are hired because of the diminishing
A) output price. B) marginal physical product of labor. C) price of labor. D) marginal cost of production.
Demographers predict that declines in birthrates are in part due to:
A. More strict adherent to religious beliefs and practices regarding human reproduction B. Fewer career opportunities for women in many societies C. The increased expense of raising a child in modern societies D. Falling standards of living in many countries around the world