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

question 174

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. If the price per pizza is greater than $15, there would most likely be a(n)

• A) excess supply of more than 600 units.
• B) quantity supplied of less than 1,000 units.
• C) excess demand of less than 400 units.
• D) quantity demanded of more than 400 units.

Understand the concept and importance of reordering points in inventory management.

Comprehend the principles and application of ABC analysis in inventory classification.

Recognize the challenges and strategies in controlling service inventories.

Understand the relationship between service level and stockouts.

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Definitions:

Cash Collections

The process of gathering and managing incoming cash payments from customers or clients.

Sales

The activities involved in selling goods or services to customers for revenue.