14. Suppose that 40 percent of the voting population wish to spend $1,000 for artwork in City...

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14. Suppose that 40 percent of the voting population wish to spend $1,000 for artwork in City Hall, 25 percent wish to spend $20,000, and 35 percent wish to spend $22,000. What is the median preferred outcome, the average preferred outcome, and the modal preferred outcome?

a. $1,000; $14,333; $1,000

b. $20,000; $20,000; $22,000

c. $20,000; $13,100; $1,000

d. $1,000; $20,000; $22,000

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