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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Definitions:

Enzymes

Biological molecules that significantly speed up the rate of virtually all of the chemical reactions that take place within cells.

Steroidal

Pertaining to or comprised of steroids, organic compounds with a specific molecular structure that include hormones and certain medications.

Cell

The smallest structural and functional unit of an organism, typically microscopic, and consisting of cytoplasm and a nucleus enclosed in a membrane.

Nonsteroidal

Refers to medications or compounds not derived from steroids, often used to reduce inflammation, fever, or pain without the side effects of steroids.