The table below represents the quantity of rice demanded for selected countries. Quantity of Rice Demanded (millions of metric tons) Price (U.S. dollars per metric ton) Japan Taiwan South Korea Market Total $600 13 7 8 500 14 8.5 10.5 400 15 10 13 300 16 11.5 15.5 200 17 13 18 What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton? million metric tons Round your answers to 1 decimal place.
The table below represents the quantity of rice demanded for selected countries. Quantity of Rice Demanded (millions of metric tons) Price (U.S. dollars per metric ton) Japan Taiwan South Korea Market Total $600 13 7 8 500 14 8.5 10.5 400 15 10 13 300 16 11.5 15.5 200 17 13 18 What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton? million metric tons Round your answers to 1 decimal place.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The table below represents the quantity of rice
Quantity of Rice Demanded (millions of metric tons) | ||||
Japan | Taiwan | South Korea | Market Total | |
$600 | 13 | 7 | 8 | |
500 | 14 | 8.5 | 10.5 | |
400 | 15 | 10 | 13 | |
300 | 16 | 11.5 | 15.5 | |
200 | 17 | 13 | 18 |
What is the quantity of rice demanded in the market (in metric tons) if the market price is $300 per metric ton?
million metric tons Round your answers to 1 decimal place.
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