-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.

Question

-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.

Quizplus · Accepted Answer

At a price ceiling of $2, the quantity demanded exceeds the quantity supplied, leading to a shortage. The demand is 80 slices, and the supply is 60 slices, resulting in a shortage of 20 slices.

-The Demand and Supply Schedules for Pizza Are in the Table