Question

Use the table below to answer the question.

Price Quantity Supplied of T-shirts Quantity Demanded of T-shirts
$5
300
$10
100
100
$25
300
50
$50
400
T-shirts and consumers demand
_T-shirts.
At the highest price of $50, producers supply
100,100
O 0,300
400,0

Answer 1

C. 400; 0

Step-by-step explanation:

The table given can be explained as follow:

Each row contains three information the price of each T-shirt, the quantity of T-shirt that the producers would produce at the equivalent price and the quantity of T-shirt that the consumers demand at the equivalent price.

So from the last row of the table, it can be concluded that: the price of T-shirt is $50 per T-shirt. At this price, producers will supply 400 T-shirts and consumers demand 0 T-shirts.

So that the answer is 400; 0