Consider the Following Bar Graph

question 100

Multiple Choice

Consider the following bar graph. How many barrels of oil per day were used by Italy?

• A) 0.19 million barrels
• B) 2.3 million barrels
• C) 1.9 million barrels
• D) 1.7 million barrels
• E) 2.1 million barrels

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Definitions:

Food Price

The cost assigned to food items, influenced by factors such as production costs, supply and demand, and market conditions.

Choice Set

The collection of all possible alternatives or options available to a decision-maker.

Price Decreases

A reduction in the cost at which goods and services are sold, typically influencing demand.

Marginal Utility

The additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.