Table 4.4
$$\begin{array}{l}
\text { Table } 4.4\
\begin{array} { | l | l | l | }
\hline \begin{array} { l }
\text { Price per Pizza } \
( \$ )
\end{array} & \begin{array} { l }
\text { Quantity Demanded per Week } \
\text { (millions) }
\end{array} & \begin{array} { l }
\text { Quantity Supplied per Week } \
\text { (millions) }
\end{array} \
\hline 10 & 10 & 30 \
\hline 8 & 15 & 25 \
\hline 6 & 20 & 20 \
\hline 4 & 25 & 15 \
\hline 2 & 30 & 10 \
\hline
\end{array}
\end{array}$$
-Refer to the market schedules for pizza in Table 4.4. If the price falls to $2, what will happen?

Question

Table 4.4
 $$\begin{array}{l}
\text { Table } 4.4\
\begin{array} { | l | l | l | } 
\hline \begin{array} { l } 
\text { Price per Pizza } \
( \$ )
\end{array} & \begin{array} { l } 
\text { Quantity Demanded per Week } \
\text { (millions) }
\end{array} & \begin{array} { l } 
\text { Quantity Supplied per Week } \
\text { (millions) }
\end{array} \
\hline 10 & 10 & 30 \
\hline 8 & 15 & 25 \
\hline 6 & 20 & 20 \
\hline 4 & 25 & 15 \
\hline 2 & 30 & 10 \
\hline
\end{array}
\end{array}$$
-Refer to the market schedules for pizza in Table 4.4. If the price falls to $2, what will happen?

Quizplus · Accepted Answer

At a price of $2, the quantity demanded is 30 million pizzas while the quantity supplied is 10 million pizzas, resulting in a shortage of 20 million pizzas. Typically, when there is a shortage, prices tend to rise to reach equilibrium.

Table 44 -Refer to the Market Schedules for Pizza in Table 4