Frozen food manufacturers supply pizza and calzones to perfectly competitive pizza and calzone markets. As the result of an increase in the prices of calzones, the firms produces more calzones and fewer pizzas. An economist would explain this by saying O the supply of calcones increased and the supply of pizzas decreased O there has been an increase in the quantity supplied of calzones and a decrease in the supply of pizza there has been an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas O the supply of calzones increased and the quantity supplied of pizza decreased
Frozen food manufacturers supply pizza and calzones to perfectly competitive pizza and calzone markets. As the result of an increase in the prices of calzones, the firms produces more calzones and fewer pizzas. An economist would explain this by saying O the supply of calcones increased and the supply of pizzas decreased O there has been an increase in the quantity supplied of calzones and a decrease in the supply of pizza there has been an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas O the supply of calzones increased and the quantity supplied of pizza decreased
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 55P: Table 3.9 illustrates the markets demand and supply for cheddar cheese. Graph the data and find the...
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