Suppose the supply function for pizza in Ithaca is given by P = 100 + Q + X - Y where P=price, Q=quantity, and X and Y are other factors that may affect demand. Which of the following are true? (Select all that apply.) X could be the cost of cheese (an ingredient used in making pizza) O b. Y could be the wage rate for pizza chefs O c. Y could be be the price of soda O d. X could be a tax O e. Y could be a subsidy on flour (an ingredient used in making pizza)

Suppose the supply function for pizza in Ithaca is given by P = 100 + Q + X - Y where P=price, Q=quantity, and X and Y are other factors that may affect demand. Which of the following are true? (Select all that apply.) X could be the cost of cheese (an ingredient used in making pizza) O b. Y could be the wage rate for pizza chefs O c. Y could be be the price of soda O d. X could be a tax O e. Y could be a subsidy on flour (an ingredient used in making pizza)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 20P

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