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

Question 245

Multiple Choice

Refer to the information provided in Table 3.1 below to answer the question(s) that follow.
Table 3.1
 Price per Pizza  Quantity Demanded  (Pizzas per Month)   Quantity Supplied  (Pizzas per Month)  $31,20060061,000700980080012600900154001,000\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 $15, there is a(n)


A) market equilibrium.
B) excess demand of 400 units.
C) excess demand of 900 units.
D) excess supply of 600 units.

Correct Answer:

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