The Fact That a Gallon of Gasoline Commands a Higher

question 148

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.

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Being the only one of its kind; unlike anything else.

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