a. If the price of a pizza is $12, is there a shortage or a surplus and

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a. If the price of a pizza is $12, is there a shortage or a surplus and does the price rise or fall?
b. Buyers want to pay the lowest possible price, so why would they be willing to pay more than $12 for a pizza?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:57 AM

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a. If the price of a pizza is $12, is there a shortage or a surplus and

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a If the price of a pizza is 12 there is a shortage of pizza the quantity demanded of p...View the full answer

Microeconomics

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