Car A gets 20 miles per gallon, and sells for $17,000. Car B gets 40 miles per gallon, and sells for $34,000. In the economic way of thinking, which car is more efficient?
A) Car A
B) Car B
C) Both are equally efficient.
D) It depends on the car buyer's estimate of cost and benefit.
E) It depends on a number of statistical tests done by economists, the results of which are not stated in the question.
D
Economics
You might also like to view...
How does increasing wealth raise the cost of doing everything? By
A) bidding up the prices of labor-saving devices. B) increasing the time required to earn and manage the wealth. C) increasing the value of available alternatives. D) raising the cost of hiring servants. E) raising the rate of inflation.
Economics
Producers may respond to a unit tax by _____
a. increasing the value of each unit b. increasing the number of units sold c. differentiating their product line d. selling the product in bundles
Economics