The Owner of a Gas Station Records the Number of Gallons

question 66

Multiple Choice

The owner of a gas station records the number of gallons of gas he sells over a period of time. He notices that the number of gallons of gas he sells depends linearly on the price he charges for each gallon. When he charges $1.67 per gallon of gas, he sells 1000 gallons of gas each day. When he charges $2.49 per gallon, he sells 600 gallons. Which one of the following equations model the number of gallons sold at price x ?

• A) y = 1,814.63 -488 x

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Definitions:

Order Cost

The total expenses incurred in placing and receiving an order, including production, shipping, and handling fees.

Variable Cost Per Unit

The cost that varies with each unit of production or service provided.

Net 30 Credit Policy

A payment term indicating that the payment for goods or services is due 30 days after the invoice date, often used in business-to-business transactions.

Monthly Interest Rate

The interest rate applied to a loan or investment for one month, often used to calculate the monthly interest payments or earnings.