Question

In the supply-and-demand schedule shown above, at a price of $50, producers supply _____ cell phones and consumers demand _____ cell phones.
200,450

450,200

300,300

Answer 1

Answer:

200 450

Explanation:

As the demand and supply schedule is given at different prices

The supply given by the producers and the demand given by the location should be mentioned at different prices with different supply and demand

So as we can see that

At price of $25

The supply is 0 and the demand is 500

At price of $50

The supply is 200 and the demand is 450

At price of $100

The supply and the demand is 300 each

At price of $150

The supply is 400 and the demand is 250

At price of $200

The supply is 500 and the demand is 0

So at a price of $50, the supply is 200 and the demand is 450

Therefore, the first option is correct