(Figure: Movie Tickets and Gasoline) Based on the Graph, Which

question 87

Multiple Choice

(Figure: Movie Tickets and Gasoline) Based on the graph, which statement is TRUE?

• A) One gallon of gasoline is more expensive than a movie ticket.
• B) There are more gas stations than movie theaters.
• C) Consumers prefer having more gasoline than seeing movies.
• D) A movie ticket is more expensive than a gallon of gasoline.

---

Definitions:

Factor Prices

Prices paid for the use of factors of production, such as labor, land, and capital, important in understanding cost structures and economic value added.

Production Function

An economic model that describes the relationship between inputs used in production and the resulting output.

Average Cost

The total cost of production divided by the number of goods produced, also known as cost per unit.

Copper

A reddish-brown, malleable, ductile metallic element with high electrical and thermal conductivity, used in many alloys and as electrical conductors.