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John is selling his pizza for $6 per slice in an area of high demand. However, customers are not buying his pizza.
Using what you learned about the principles of equilibrium, write three to four sentences about how John could solve his problem.

Respuesta :

osoresnatalia2

John's prices are too high. This is causing excess supply: John's workers can make many pizzas, but at these high prices, consumers are only demanding a small amount. If the price per slice decreased, consumers would demand more of John's pizza. This means that business would move toward a point of equilibrium, where supply matches demand at the appropriate price.

adioabiola

According to the principles of equilibrium, John can solve the problem of low demand of his product by;

  • Decreasing price of his product
  • Decreasing the supply of its product
  • Reducing the cost of inputs

The law of demand

The law of demand states that the higher the price, the lower the quantity demanded; the lower the price, the higher the quantity demanded.

So, John can have high demand of his products if he reduces the price. Price reduction can be achieved by reducing the cost of production inputs. Also when supply is less than demand, the demand exceeds supply.

Learn more about demand and supply:

https://brainly.com/question/2398546

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