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econlab022

# econlab022 - IEanerIjseSmre Duff 1 pt AssignmntSmrE 30{16...

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Unformatted text preview: \ IEanerIjseSmre: Duff 1 pt AssignmntSmrE: 30% {16 Elf 20 p15] 1300'le complete a The table shows the demand and supply schedules for rice. Price Quantity Quantity What are the price, the marginal cost of pro-dining rice, and “an!” demanded supplied the quantityr produced if the government sets a quota of per box} {boxes per week} 2,000 boxes a week? 1.00 3,500 500 . 1.1 0 3,250 1,000 >=-=- Answer to 2 decimal places. 1-20 3:000 1:500 With a quota oflm0 boxes :1 week, the price ofa box of 1-30 2:750 2:300 rice is \$-, the marginal cost of producing rice is \$- :1 1.40 2,500 2,500 box, andthe quantityr of rice produced is boxes a 1-53 2:250 3:00“ week. 1.50 2,000 3,500 ® Sorry, that's not correct. The table shows the demand and supply.r schedules for rice. Quantity Quantity demanded supplied The marginal cost of producing rice comes from the supply.r {boxes per week} curve. 3,500 500 When the quantity-r produced is 1000 boxes a week, the 3:25” 1.393 marginal cost is not \$1.6 a box. 3,000 1,533 2,?50 2,000 2,500 2,500 2,250 3,000 2,000 3,500 ...
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