Question

Use the table below to answer the following question. Table 6.4.1 (dollars per box) Quantity Demanded (boxes per week) Quantity Supplied (boxes per week) Price 1.00 1.10 1.20 1.30 3,500 3,250 3,000 2,750 2,500 2,250 2,000 500 1,000 1,500 2,000 2,500 3,000 3,500 1.40 1.50 1.60 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. OA. $1.20; $1.50; 2,500 OB. $1.40; $1.40; 2,500 OC. $1.20; $1.50; 3,000 OD. $1.50; $1.20; 3,000 OE. $1.50; $1.20; 2,500