the graph shows the market for pizza.\nin the market for pizza, which curve shows the willingness to pay for…

the graph shows the market for pizza.\nin the market for pizza, which curve shows the willingness to pay for a pizza?\nif the price of a pizza is $16, is there a shortage or a surplus of pizza and does the price rise or fall?\nsellers want to receive the highest possible price, so why would they be willing to accept less than $16 a pizza?\nin the graph, draw a point on the curve that shows the price that someone is willing to pay for the 100th pizza.\nif the market price of a pizza is $16, a ______ exists and the price ______.\na. shortage of pizza; falls\nb. surplus of pizza; falls\nc. shortage of pizza; rises\nd. surplus of pizza; rises\nsellers want to receive the highest possible price, so they are willing to accept less than $16 a pizza because ______.\na. they know the price will eventually rise\nb. at $16 a pizza they are not selling all of the pizzas that they plan to sell

the graph shows the market for pizza.\nin the market for pizza, which curve shows the willingness to pay for a pizza?\nif the price of a pizza is $16, is there a shortage or a surplus of pizza and does the price rise or fall?\nsellers want to receive the highest possible price, so why would they be willing to accept less than $16 a pizza?\nin the graph, draw a point on the curve that shows the price that someone is willing to pay for the 100th pizza.\nif the market price of a pizza is $16, a ______ exists and the price ______.\na. shortage of pizza; falls\nb. surplus of pizza; falls\nc. shortage of pizza; rises\nd. surplus of pizza; rises\nsellers want to receive the highest possible price, so they are willing to accept less than $16 a pizza because ______.\na. they know the price will eventually rise\nb. at $16 a pizza they are not selling all of the pizzas that they plan to sell

Answer

Brief Explanations:

  1. The demand curve shows the willingness to pay for a good. In the pizza - market, the demand curve shows the willingness to pay for a pizza.
  2. When the price of a pizza is $16, if it is above the equilibrium price, quantity supplied exceeds quantity demanded, creating a surplus. In a surplus situation, sellers have an incentive to lower the price to sell their excess inventory, so the price falls.
  3. Sellers are willing to accept less than $16 per pizza when there is a surplus because at $16 they are not selling all of the pizzas they plan to sell. They need to lower the price to increase the quantity demanded and clear their inventory.

Answer:

  1. The demand curve shows the willingness to pay for a pizza.
  2. B. surplus of pizza; falls
  3. B. at $16 a pizza they are not selling all of the pizzas that they plan to sell