(Table: Gasoline Market) Use the table. The total cost of purchasing 20 gallons of gas at the free market price and the price ceiling are ________ and ________, respectively.
A) $100; $80
B) $80; $90
C) $60; $75
D) $40; $60

Question

(Table: Gasoline Market) Use the table. The total cost of purchasing 20 gallons of gas at the free market price and the price ceiling are ________ and ________, respectively. 
A) $100; $80 
B) $80; $90 
C) $60; $75 
D) $40; $60

Quizplus · Accepted Answer

At the free market price, the total cost of purchasing 20 gallons of gas is:

20 gallons x $4/gallon = $80

At the price ceiling, the total cost of purchasing 20 gallons of gas is:

20 gallons x $4.50/gallon = $90

Therefore, the correct answer is B) $80; $90.

(Table: Gasoline Market) Use the Table