Refer to Table 3.1. If the price per pizza is $6, the price will

A) remain constant because the market is in equilibrium.
B) increase because there is an excess supply in the market.
C) increase because there is an excess demand in the market.
D) decrease because there is an excess supply in the market.

Market Equilibrium

A situation where the quantity of a good or service supplied equals the quantity demanded at a specific price level.

Excess Demand

A scenario in which the current price of a product or service leads to a demand that surpasses its available supply.

Excess Supply

Occurs when the quantity of a good or service offered by producers exceeds the quantity demanded by consumers at the current price.