as the manager of a farm - to - table restaurant, carlos sets the prices of entrees each day. today, his…

as the manager of a farm - to - table restaurant, carlos sets the prices of entrees each day. today, his restaurant sold out of avocado toast during lunch service, so he had to recommend to some avocado toast aficionados the goat cheese salad tartine with micro greens. which price did he most likely set for avocado toast?\n| price | quantity demanded | quantity supplied |\n| ---- | ---- | ---- |\n| $15.00 | 4 | 40 |\n| $13.00 | 8 | 32 |\n| $11.00 | 12 | 24 |\n| $9.00 | 16 | 16 |\n| $7.00 | 20 | 8 |\n$7.00\n$9.00\n$11.00\n$13.00

as the manager of a farm - to - table restaurant, carlos sets the prices of entrees each day. today, his restaurant sold out of avocado toast during lunch service, so he had to recommend to some avocado toast aficionados the goat cheese salad tartine with micro greens. which price did he most likely set for avocado toast?\n| price | quantity demanded | quantity supplied |\n| ---- | ---- | ---- |\n| $15.00 | 4 | 40 |\n| $13.00 | 8 | 32 |\n| $11.00 | 12 | 24 |\n| $9.00 | 16 | 16 |\n| $7.00 | 20 | 8 |\n$7.00\n$9.00\n$11.00\n$13.00

Answer

Explanation:

Step1: Identify sell - out situation

Sell - out means quantity demanded > quantity supplied.

Step2: Check table values

At $7.00, quantity demanded (20) > quantity supplied (8).

Answer:

$7.00