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

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18 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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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 01:00 AM

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

Question:

Price (pounds per pizza) 16 14 12 10 0 100 200 300 400 Quantity (pizzas per day)

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Economics

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