Solved

The Fact That a Gallon of Gasoline Commands a Higher

Question 202

Multiple Choice

The fact that a gallon of gasoline commands a higher market price than a gallon of water indicates that


A) gasoline is an economic good but water is not.
B) the marginal utility of gasoline is greater than the marginal utility of a gallon of water.
C) the average utility of a gallon of gasoline is greater than the average utility of a gallon of water.
D) the total utility of gasoline exceeds the total utility of water.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents