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The Graph Shows the Supply and Demand Curves for a Cajun

question 5

Multiple Choice

The graph shows the supply and demand curves for a Cajun spice mix that Leroy manufactures in a home business.What will happen if Leroy sets the price at $3.99? ​ The graph shows the supply and demand curves for a Cajun spice mix that Leroy manufactures in a home business.What will happen if Leroy sets the price at $3.99? ​   ​ A)  The supply will exceed the demand. B)  The demand will exceed the supply. C)  The market will be in equilibrium. D)  Five hundred spice mixes will be demanded.


Definitions:

Smoker

An individual who consumes tobacco products through the act of smoking.

Direct Cross-Subsidies

Pricing a product or service above its market value to pay for the loss of giving away a product or service for free or below its market value.

Market Value

The current price at which an asset or company can be bought or sold in the marketplace.

Product

An item or service created through a process and offered to a market to satisfy a need or want.

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