-The Demand and Supply Schedules for Pizza Are in the Table

question 51

Multiple Choice

-The demand and supply schedules for pizza are in the table above. A price ceiling of $2 per slice results in

• A) a shortage of 60 slices of pizza.
• B) a surplus of 20 slices of pizza.
• C) a shortage of 20 slices of pizza.
• D) a shortage of 40 slices of pizza.
• E) neither a shortage nor a surplus.

---

Definitions:

Federal Government

A system of government where powers are divided between a central government and several regional governments.

Provincial Partnership Acts

Statutes enacted by provincial governments in Canada that govern the formation, operation, and dissolution of partnerships.

Unlimited Liability

A legal structure where business owners are personally responsible for all of the business's debts, without limitation to their personal assets.

Partnership Assets

Assets owned by a partnership, which are used in the operation of the business and are subject to the rights and interests of the partners.