Use the following graph of the market for milk to answer the question below.
In this market, the equilibrium price is ________ and equilibrium quantity is ________.
A. $28 per gallon; 150 million gallons
B. $1.50 per gallon; 30 million gallons
C. $1.50 per gallon; 28 million gallons
D. $1.00 per gallon; 35 million gallons
Answer: C
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