Solve
-A Gas Station Sells 4820 Gallons of Regular Unleaded $\$ 1.35$

question 104

Multiple Choice

Solve.
-A gas station sells 4820 gallons of regular unleaded gasoline in a day when they charge $\$ 1.35$ per gallon, whereas they sell 3922 gallons on a day that they charge $\$ 1.40$ per gallon. Find a linear equation that relates gallons sold to price. Use this equation to predict the number of gallons sold at a price of $\$ 1.23$ per gallon. Round to the nearest tenth when appropriate.

• A) \(6979.3 \mathrm { gal }\)
• B) \(6975.2 \mathrm { gal }\)
• C) \(6984.2 \mathrm { gal }\)
• D) \(6971.9 \mathrm { gal }\)

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Definitions:

Self-Interest

Refers to actions that elicit personal benefit or advantage, often guiding economic decision-making and behavior in the context of rational choice theory.

Consumer Sovereignty

The determination by consumers of the types and quantities of goods and services that will be produced with the scarce resources of the economy; consumers’ direction of production through their dollar votes.

Dollar Votes

The “votes” that consumers cast for the production of preferred products when they purchase those products rather than the alternatives that were also available.

Goods and Services

The physical items (goods) and activities or benefits (services) that are produced or provided to meet the needs and wants of consumers.