Use the Following Figure to Answer the Question

question 45

Multiple Choice

Use the following figure to answer the question.

Examine the figure, which notes the average barrels of oil used per person per year in different countries. What can be concluded?

• A) Residents in warmer climates use more energy per person.
• B) Residents of more affluent, industrialized countries use more energy per person.
• C) Residents of more populated countries use more energy per person.
• D) English-speaking countries tend to use more energy per person.

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Definitions:

Marginal Revenue

The additional revenue generated from selling one more unit of a good or service.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be either positive or negative.

Externality

Actions of one party impose costs or benefits on a second party.

Economy of Scale

The cost advantages that enterprises obtain due to their scale of operation, typically resulting in decreased per-unit cost as production increases.