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

question 1

Multiple Choice

-The demand and supply schedules for pizza are in the table above.A price ceiling of $2 per slice results in

• A) a surplus of 20 slices of pizza.
• B) a shortage of 20 slices of pizza.
• C) a shortage of 40 slices of pizza.
• D) a shortage of 60 slices of pizza.
• E) neither a shortage nor a surplus.

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Definitions:

External Adaptation

The process by which an organization or individual modifies itself or its strategies to cope with changes in its external environment.

Niche

describes a specialized segment of the market for a particular kind of product or service, where specific demand exists.

Organizational Culture

The set of shared values, beliefs, behaviors, and norms that influence how work gets done within an organization.

Shared Assumptions

Fundamental beliefs and understandings that are implicitly agreed upon by members of an organization or group, guiding their behavior and decision-making.