Is the Average Inventory? (Round Up to the Nearest Whole

question 23

Multiple Choice

is the average inventory? (round up to the nearest whole number)

• A)1200 units
• B)283 units
• C)250 units
• D)275 units

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Definitions:

Normal Goods

Goods for which demand increases as the income of consumers increases, assuming all other factors remain constant.

Natural Gas

A fossil fuel consisting mainly of methane, used primarily for heating, cooking, and electricity generation.

Heating Oil

A low viscosity, liquid petroleum product used as a fuel for furnaces or boilers in buildings.

Demand Curve

A graph depicting the relationship between the price of a good and the quantity demanded by consumers.