At the price of $100, consumers demand 450 pairs of shoes and sellers supply 800 pairs of shoes. At $100, there is

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Social Studies

Roselyn Johns

28 May, 08:07

At the price of $100, consumers demand 450 pairs of shoes and sellers supply 800 pairs of shoes. At $100, there is

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Darrell Ritter · Answer 1

According to that condition, There is an Excess supply (supply is greater than demand) It's stated that the consumers only demanded 450 pairs, while 800 of them being supplied, creating 350 pairs excess in supply