-The figure above shows the market supply and market demand for pizza.
a) What is the efficient quantity of pizzas?
b) If 70,000 pizzas are produced, what area represents the deadweight loss?
c) Why does the deadweight loss in part (b) occur?
d) If 20,000 pizzas are produced, what area represents the deadweight loss?
e) Why does the deadweight loss in part (d) occur?
Definitions:
Cash
A company's currency or currency equivalents that can be accessed immediately or at short notice.
Expenses
Costs incurred in the process of generating revenue, typically categorized into operating and non-operating expenses.
Revenues
The total amount of money received or accrued by a business from its normal business operations.
Net Loss
A situation where total expenses exceed total revenues in a specific period, indicating a reduction in equity.
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