In the broadest sense, the supply and demand model shows a relationship between which two variables? Group of answer choices Price and Profit Revenue and Costs Price and Quantity Profit and Costs As the price of a good increases, the quantity supplied will _______ and the quantity demanded will _______. Group of answer choices decrease; decrease increase; increase decrease; increase increase; decrease Price and quantity supplied have a(n) ________ relationship, and price and quantity demanded have a(n) ________ relationship. Group of answer choices direct; direct inverse; direct direct; inverse inverse; inverse Which of the following is not a determinant of demand? Group of answer choices Consumer preferences Number of buyers Input prices Consumer income Which of the following is not a determinant of supply? Group of answer choices Seller expectations Number of buyers Technology Input prices Suppose that at a given price, the quantity supplied is greater than the quantity demanded of pizza. At this price, there is a: Group of answer choices shortage of pizza. change in demand. equilibrium. surplus of pizza. If the quantity supplied is 10 pizzas and the quantity demanded is 7 pizzas, there is a: Group of answer choices surplus of 3 pizzas. surplus of 10 pizzas. shortage of 10 pizzas. shortage of 3 pizzas. Suppose a study is released showing that pizza is bad for your health. How would this affect the market for pizza? Group of answer choices Demand increases Demand decreases Supply increases Supply decreases Suppose that several pizza shops close, decreasing the number of sellers. How would this affect the market for pizza? Group of answer choices Supply increases Supply decreases Demand decreases Demand increases Suppose you are given the equation P = 12 - 2Q. This equation represents a ____ curve. Group of answer choices supply equilibrium cost demand Suppose that the supply of pizza in a town is given by the equation P = 5 + 4Q, and demand for pizza is given by the equation P = 20 - Q. In these equations, P is the price in dollars and Q is the quantity in thousands of pizzas. In this market, the equilibrium price is $ and quantity is thousand pizzas. Suppose that the supply of pizza in a town is given by the equation P = 5 + 4Q, and demand for pizza is given by the equation P = 20 - Q. In these equations, P is the price in dollars and Q is the quantity in thousands of pizzas. At a price of $13 per pizza, thousand pizzas are supplied and thousand pizzas are demanded. Suppose that the supply of pizza in a town is given by the equation P = 5 + 4Q, and demand for pizza is given by the equation P = 20 - Q. In these equations, P is the price in dollars and Q is the quantity in thousands of pizzas. At a price of $13 per pizza, there is a: Group of answer choices surplus of 6 thousand pizzas. shortage of 4 thousand pizzas. shortage of 5 thousand pizzas. surplus of 4 thousand pizzas