-The Above Figure Shows a Graph of the Market for Pizzas

question 111

Multiple Choice

-The above figure shows a graph of the market for pizzas in a large town.If the price falls from $10 to $7 per pizza,the quantity of pizzas demanded will

• A) increase by 20.
• B) decrease by 30.
• C) increase by 30.
• D) decrease by 10.

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Definitions:

Increasing Marginal Opportunity Costs

The principle that as production of a good expands, the opportunity cost of producing an additional unit rises.

Discrimination

The practice of according individuals or groups inferior treatment in hiring, occupational access, education and training, promotion, wage rates, or working conditions even though they have the same abilities, education, skills, and work experience as other workers.

Production Possibilities Curve

The production possibilities curve is a graphical representation showing the maximum combination of goods or services that can be produced in a given time period, given available resources and technology.

Concave

A shape or curve that is rounded inward, resembling the interior of a circle or sphere.