Answered

Experience the power of community-driven knowledge on IDNLearn.com. Our experts are available to provide accurate, comprehensive answers to help you make informed decisions about any topic or issue you encounter.

Supply-and-Demand Schedule for Cell Phones Price of Cell Phones Quantity Supplied of Cell Phones Quantity Demanded of Cell Phones $25 0 500 $50 200 450 $100 300 300 $150 400 250 $200 500 0 In the supply-and-demand schedule shown above, at the prices of _____ and _____, there is excess supply because quantity supplied is greater than quantity demanded. $25, $50 $25, $200 $150, $200

Sagot :

Eooyibo123idn

Answer:

$150, $200

Explanation:

A schedule that shows relationship between quantity supplied and quantity demanded is used to estimate the equilibrium quantity and price where there is a balance between the buyer's willingness to buy and the seller's willingness to sell.

Below this equilibrium point there is excess of quantity demanded over limited supply.

Above equilibrium there is excess supply and less demand.

According to the given schedule the equilibrium price is $100 where demand and supply are both 300 units.

The prices at which there are excess supply is given below

At $150 400 units is supplied against 250 units demanded

At $200 500 units are supplied against 0 units demanded

We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.