At a price of _____, producers are not willing to supply any shoes. This most likely happens because producers cannot cover thei

Question

3 years ago

6

At a price of _____, producers are not willing to supply any shoes. This most likely happens because producers cannot cover thei

r costs at this price.
Price Quantity Supplied of Shoes Quantity Demanded of Shoes
$10 0 500
$50 100 300
$75 250 250
$100 400 0

Social Studies

1 answer:

Ratling [72] · Answer 1 · 2022-07-08T10:43:05+03:00

From the first row of the table, at a price of $10, suppliers are not willing to make any shoes (quantity supplied of shoes = 0) since they will not make significant profit off of it.

In contrast, the demand is 500, since everyone would love to buy shoes at that very cheap price.