Question

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.

Answer 1

John could solve this problem by decreasing the price of his pizza. At this time, John has what is known as a surplus of pizza. This means he is making more pizza than people are buying. Even though there is high demand for this good, the price is at a point where many individuals will not buy it or will buy it from someone else.

In order to attain equilibrium, John must reduce the price. By reducing the price, more individuals will be buying pizza. In order to reach equilibrium, John will have to decrease prices so that the demand for pizza and the supply of pizza are the same.

Answer 2

A state in which competing acts or forces are balanced in such a way that neither is more powerful than the other. The demand and supply were in balance.

John's pricing is excessively exorbitant. This results in an overabundance of supply:

• John's employees can manufacture a large number of pizzas, but at these high costs, customers only want a small number.
• Customers would order more of John's pizza if the price per slice was reduced.
• This indicates that the company will eventually reach a point of equilibrium when demand and supply are balanced at a reasonable price.

For more information related to equilibrium, refer to the link:

https://brainly.com/question/6035227?referrer=searchResults