Use the Table Below to Answer the Following Questions

question 18

Multiple Choice

Use the table below to answer the following questions.
Table 6.4.1
-Refer to Table 6.4.1.The table shows the demand and supply schedules for rice.The market for rice is in equilibrium.With a subsidy of $0.30 a box,the price of a box of rice is ________,the marginal cost of producing rice is ________ a box,and the quantity of rice produced is ________ boxes.

• A)$1.40;$1.40;2,500
• B)$1.20;$1.50;2,500
• C)$1.20;$1.50;3,000
• D)$1.50;$1.20;3,000
• E)$1.50;$1.20;2,500

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Definitions:

Ford Mustang

An iconic American sports car model produced by Ford Motor Company, known for its performance and design.

Convertible

A type of car or bond that can be converted into another form, such as a convertible car with a retractable roof or a bond that can be converted into stock.

Population

The entire set of individuals or items that is the subject of study in statistical analysis.

Random Variables

Variables representing numerically measurable outcomes of random events.