3-for-1 Pizza is operating at the point where the supply curve intersects the demand curve.If the owner decides to increase the price and not change the production level,what will result?
A)A shortage
B)A surplus
C)More profit
D)A shift in the supply curve
E)A shift in the demand curve

Question

Quizplus · Accepted Answer

When the price is increased without changing the production level, the quantity supplied will exceed the quantity demanded, resulting in a surplus.

3-For-1 Pizza Is Operating at the Point Where the Supply