Your weekly budget for gasoline and movie rentals is $45.00. Referring to the figure above, what is the price per gallon of gasoline?
A) $1.00
B) $1.25
C) $1.50
D) $1.75
C
Economics
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If a perfectly competitive firm maximizes short-run profits, its marginal revenue will be positive and less than its price
Indicate whether the statement is true or false
Economics
Suppose we have the following information about a furniture maker: furniture sales $100M, wood purchases $60M, wages $25M, tax on profits $5M, profits $10M. What is the contribution to GDP of this company using the product approach?
A) $100M. B) $60M. C) $40M. D) $15M.
Economics