Solve the Problem. -Pedro Canʹt Decide Which Size Pizza to Order. the 10-Inch

question 103

Multiple Choice

Solve the problem.
-Pedro canʹt decide which size pizza to order. The 10-inch cheese and sausage pizza is $10.99, While the 12-inch deluxe is $11.99. If he gets the 10-inch pizza, the total price will be divided Among 3 people. If he chooses the 12-inch pizza, then the total price will be divided among 4 People. Which is the better buy? How much will each person pay? (Use 3.14 for π.)

• A) 12-inch pizza; $3.00
• B) 12-inch pizza; $3.66
• C) 10-inch pizza; $3.00
• D) 10-inch pizza; $3.66

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Definitions:

Net Benefit

The total positive effects or outcomes of a decision or action minus its total negative effects or costs.

Labor Supply Decisions

The choices individuals make regarding how much labor to supply to the market, influenced by factors such as wages, working conditions, and personal preferences.

Pareto Optimal

A distribution of resources where it's infeasible to enhance the well-being of one individual without adversely affecting another.

Private Goods

Goods that are rivalrous and excludable, meaning consumption by one person diminishes availability for others, and access can be restricted.