Refer to the Information Provided in Table 3 -Refer to Table 3

question 293

Multiple Choice

Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1
$$\begin{array} { | c | c | c | } \hline \text { Price per Pizza } & \begin{array} { c } \text { Quantity Demanded } \\\text { (Pizzas per Month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Pizzas per Month) }\end{array} \\\hline \$ 3 & 1,200 & 600 \\\hline 6 & 1,000 & 700 \\\hline 9 & 800 & 800 \\\hline 12 & 600 & 900 \\\hline 15 & 400 & 1,000 \\\hline\end{array}$$
-Refer to Table 3.1. This market will be in equilibrium if the price per pizza is

• A) $6.
• B) $9.
• C) $12.
• D) $15.

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Definitions:

Materials And Labor

The primary components of manufacturing costs, representing the raw materials and workforce expenses directly involved in production.

Prime Costs

The sum of direct materials and direct labor expenses directly involved in the manufacturing of a product.

Direct Materials

Raw materials that can be directly attributed to the production of goods, forming a significant part of the finished product.

Period Costs

Expenses that are not directly tied to the production of goods or services and are charged to the period in which they are incurred, such as selling, general, and administrative expenses.