1. Business
  2. Economics
  3. 1 the market for pizza has the following demand and...

Question: 1 the market for pizza has the following demand and...

Question details

1. The market for pizza has the following demand and supply schedules: Quantity Quantity Price Demanded Supplied 26 104 68 98 39 121 a. Graph on the demand and supply curves on a piece of paper. What is the equilibrium price and quantity in this market? b. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium? c. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution