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AssignmentMultiple Select

Determining Market Price

Question 2 • 2102320-Economics HONORS - Edgenuity Teacher

Sample response: John's prices are too high. This is causing excess supply: John's workers can make many pizzas, but at these high prices, consumers are only demanding a small amount. If the price per slice decreased, consumers would demand more of John's pizza. This means that business would move toward a point of equilibrium, where supply matches demand at the appropriate price. What did you include in your response? Check all that apply.John’s prices per slice are too high.John is experiencin

Answer
A
John’s prices per slice are too high.
B
John is experiencing excess supply.
C
John should lower his price to reach equilibrium.
D
Demand is lower than supply at that price.
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