Table 44 -Refer to the Market Schedules for Pizza in Table 4

question 31

Multiple Choice

Table 4.4
$$\begin{array}{l}\text { Table } 4.4\\\begin{array} { | l | l | l | } \hline \begin{array} { l } \text { Price per Pizza } \\( \$ ) \end{array} & \begin{array} { l } \text { Quantity Demanded per Week } \\\text { (millions) }\end{array} & \begin{array} { l } \text { Quantity Supplied per Week } \\\text { (millions) }\end{array} \\\hline 10 & 10 & 30 \\\hline 8 & 15 & 25 \\\hline 6 & 20 & 20 \\\hline 4 & 25 & 15 \\\hline 2 & 30 & 10 \\\hline\end{array}\end{array}$$
-Refer to the market schedules for pizza in Table 4.4. If the price rises to $10, what will happen?

• A) There will be a shortage of 20 million pizzas and the price will fall.
• B) There will be a shortage of 20 million pizzas and the price will rise.
• C) There will be a surplus of 20 million pizzas and the price will rise.
• D) There will be a surplus of 20 million pizzas and the price will fall.
• E) There will be equilibrium and the price will remain the same.

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Definitions:

Turnkey Operation

A type of project that is constructed so that it could be sold to any buyer as a completed product. This term is commonly used in the real estate sector.

Trademark Burgers

Proprietary burgers that are legally protected by trademarks to distinguish their origin and ensure the uniqueness.

Licensing

An agreement in which a company allows another party to use its intellectual property, brand, or product in exchange for a fee or royalty.

Wholly Owned Subsidiary

A company whose entire stock is owned by another company.