Read the results from a survey of consumers in Anytown. • Fourteen percent of participants desire a store that offers custom-made shoes.• Thirteen percent of participants plan to purchase a new phone in the next year.• Fifty-two percent of participants think an additional pizza place is needed.• Twenty-one percent of participants say they purchase bagels on a daily basis. Based on the survey data, what will occur if a new pizza place opens?
Answer
A
It will result in excess supply.
B
It will result in excess demand.
C
It will help to reduce the supply.
D
It will help to satisfy the demand.
Explanation
The survey shows that 52% of participants think Anytown needs an additional pizza place. This indicates demand for another pizza place, so opening one would help satisfy that demand. It does not show that supply would become excessive or decrease.
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