Refer to the Information Provided in Table 3 -Refer to Table 3

question 174

Multiple Choice

Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1
$$\begin{array} { | c | c | c | } \hline \text { Price per Pizza } & \begin{array} { c } \text { Quantity Demanded } \\\text { (Pizzas per Month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Pizzas per Month) }\end{array} \\\hline \$ 3 & 1,200 & 600 \\\hline 6 & 1,000 & 700 \\\hline 9 & 800 & 800 \\\hline 12 & 600 & 900 \\\hline 15 & 400 & 1,000 \\\hline\end{array}$$
-Refer to Table 3.1. If the price per pizza is greater than $15, there would most likely be a(n)

• A) excess supply of more than 600 units.
• B) quantity supplied of less than 1,000 units.
• C) excess demand of less than 400 units.
• D) quantity demanded of more than 400 units.

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Definitions:

Modified Repurchase

A buying situation where a customer is making a repeat purchase but with changes in requirements or suppliers.

Public Purchase

The process by which government departments or entities acquire goods, services, and works from private sector companies.

Reference Groups

Groups that individuals compare themselves to for guidance in forming attitudes, beliefs, values, or behaviors.

Consumer

An individual who purchases goods and services for personal use.