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

question 10

Multiple Choice

-The demand and supply schedules for pizza are in the table above.If the government sets a maximum legal price of $2 per slice of pizza,then

• A) there is a shortage of 20 slices of pizza.
• B) this maximum price is an example of a price floor.
• C) this maximum price is an example of a price ceiling.
• D) Both answers A and C are correct.
• E) Both answers B and C are correct.

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Definitions:

Follow-Up Message

Communication sent to inquire or provide additional information after an initial interaction or message.

Interviewer

A person who asks questions to gather information during an interview process.

Relationship

A connection, association, or involvement between two or more parties, often characterized by mutual dealings or emotional bonds.

Negotiating

The process of discussing something with someone in order to reach an agreement or compromise.