From the economist's perspective, "market failures" basically arise when: a. the quantity demanded for a good or service is greater than the quantity supplied of the good or service. b. the quantity supplied of a good or service is greater than the quantity demanded for a good or service. c. demand and supply do not accurately reflect all the benefits and all the costs of production. d. the market system is unable to adapt to or to accommodate change.

The food services division of cedar river amusement park inc. is studying the amount families who visit the amusement park spend per day on food and drink. a sample of 40 families who visited the park yesterday revealed they spent the following amounts: see worksheet 1 for data and answer the following questions: a. organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. what class interval did you select? b. what percent of families spent less than $45? c. what percent of families spent $55 or more? d. how many families spent from $65 to 74.99?