Question - 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
|
|
600
|
6
|
0
|
1
|
|
|
500
|
7
|
0.5
|
3
|
|
|
400
|
8
|
1
|
5
|
|
|
300
|
9
|
1.5
|
7
|
|
|
200
|
10
|
2
|
9
|
|
a. Fill in the market quantity of rice demanded (column "Market") for each given price.
b. What is the quantity of rice demanded in the market (in metric tons) if the market price is $400 per metric ton?