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

question 103

Multiple Choice

-The above figure shows a graph of the market for pizzas in a large town.At a price of $14,there will be

• A) no pizzas supplied.
• B) equilibrium.
• C) excess supply.
• D) excess demand.

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Definitions:

Incentive Structure

The system of rewards and penalties that motivates individuals or groups to behave in specific ways beneficial to achieving desired outcomes.

Cheat

Engaging in dishonest or unfair practices to gain an advantage, typically forbidden in rules or by law.

Cartel Policies

Strategies and rules established by a cartel, an association of independent businesses formed to control production, pricing, and marketing of goods, to maximize collective profits.

American Automobile Producers

Companies based in the United States that manufacture cars, trucks, and other vehicles.