The Figure Above Shows the Supply Curve for Pizza and the Market

question 197

Multiple Choice

The figure above shows the supply curve for pizza and the market price of pizza.
-In the figure above,the minimum price that must be offered for the 5,000th pizza a day to be produced is

• A) $6.
• B) $10.
• C) $8.
• D) $2.
• E) $4.

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Definitions:

Specified Point in Time

Refers to a particular moment or exact date that is identified for an event or action to occur.

Payback Period

The period of time required for the return on an investment to "pay back" the sum of the original investment.

Initial Cost

The first total amount of money spent to purchase or invest in a project, product, or asset, not including any subsequent costs.

Required Rate of Return

The required rate of return is the minimum annual percentage return an investor expects to achieve from an investment, considering the risk associated with it.