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

question 245

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 $15, there is a(n)

• A) market equilibrium.
• B) excess demand of 400 units.
• C) excess demand of 900 units.
• D) excess supply of 600 units.

Learn the significance of long-term purchase commitments through blanket orders.

Differentiate between the major variations of online catalogues.

Grasp different facets of supply chain management, including environmental risks and integration strategies.

Recognize ethical considerations and standards within supply chain management.

---

Definitions:

Oil Future Contract

A legal agreement to buy or sell a specific amount of crude oil at a predetermined price at a specified time in the future.

Spot Price

The existing cost at which an asset is available for immediate purchase or sale.

Profit/Loss

The financial result of business operations or investment activities, calculated as the difference between revenues and the costs associated with generating those revenues.

Contract Size

The deliverable quantity of commodities or financial instruments specified in a contract that an investor agrees to buy or sell.