Question

In the supply-and-demand schedule shown above, at the lowest price of $25, sellers are willing to supply _____ cell phones.

Answer 1

I am not exactly sure but the chart shows that the quantity supply of cellphones is 0. This means no sellers are willing to supply phones at this price. Sorry if I am wrong...

Answer 2

The correct answer is:

If the quantity supplied of cellphones is 0, it means that no sellers are willing to provide phones at the lowest price of $25.

The quantity supplied represents the number of goods or services that are supplied at a particular market price. The quantity supplied correlates to the price level. The price can be set by the government, or by handling price ceilings or floors or by regular market forces.