The equation represents the reaction between bromine (Br2) and lithium fluoride (LiF) to form lithium bromide (LiBr) and fluorine (F2). To balance the equation, we need to ensure that the number of each type of atom is the same on both sides. In this case, there are 2 bromine atoms on the left side, so we need 2 LiBr molecules on the right side to balance it. Similarly, there are 2 fluorine atoms on the right side, so we need 2 F2 molecules on the left side. Therefore, the correct coefficients for the equation are 1, 2, 2, 1.