Question
Refer to the table below to answer the questions. Price per Pizza / Quantity Demanded(Pizzas per Month) / Quantity Supplied(Pizzas per Month) RM3 1,200 600
Refer to the table below to answer the questions.
Price per Pizza / Quantity Demanded(Pizzas per Month) / Quantity Supplied(Pizzas per Month)
RM3 1,200 600
6 1,000 700
9 800 800
12 600 900
15 400 1,000
2.1) If the price per pizza is RM12, what happen to the price and why? ____________
2.2) If the price per pizza is RM15, what happen to the market? _____________
2.3) If the price per pizza is RM6, what happen to the market? ____________
2.4) In this market there will be an excess demand of 300 pizzas at a price of _______
2.5) In this market there will be an excess supply of 300 pizzas at a price of ________
2.6) If the price per pizza is RM3, what happen to the price and why? ________________
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