Suppose that the current price in a market for pizza is $9.At that price,the quantity demanded is 519 and the quantity supplied is 400.In this market,we would expect that

Question

Quizplus · Accepted Answer

At a price where the quantity demanded exceeds the quantity supplied, there is a shortage. This typically leads to an increase in price as sellers can charge more due to higher demand.

Suppose That the Current Price in a Market for Pizza