Refer to the table below to answer the questions. Price per Pizza Quantity Demanded (Pizzas per Month) Quantity Supplied (Pizzas per Month) RM3 1,200 600 6 1,000 700 9 800 800 12 600 900 15 400 1,000 2.4) In this market there will be an excess demand of 300 pizzas at a price of _______ 2.5) In this market there will be an excess supply of 300 pizzas at a price of ________ 2.6) If the price per pizza is RM3, what happen to the price and why? ________________ What is the importance of studying economics? Give an example how it can help you.

Refer to the table below to answer the questions. Price per Pizza Quantity Demanded (Pizzas per Month) Quantity Supplied (Pizzas per Month) RM3 1,200 600 6 1,000 700 9 800 800 12 600 900 15 400 1,000 2.4) In this market there will be an excess demand of 300 pizzas at a price of _ 2.5) In this market there will be an excess supply of 300 pizzas at a price of 2.6) If the price per pizza is RM3, what happen to the price and why? __________ What is the importance of studying economics? Give an example how it can help you.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 1QR

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