There Is Only One Petrol Station Within Hundreds of Miles

question 89

Multiple Choice

There is only one petrol station within hundreds of miles.The owner finds that when she charges $3 a litre,she sells 99 litres a day,and when she charges $2.95 a litre,she sells 100 litres a day.The marginal revenue of the 100th litre of petrol is:

• A)-$5.
• B)-$2.
• C)$0.
• D)$3.
• E)$6.

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Definitions:

Environmental Performance

A measure of how well an individual, organization, government, or other entity is performing in relation to environmental goals, standards, or regulations.

Grand Plan

A comprehensive scheme or strategy designed to achieve a major or overall goal.

Hawthorne Effect

A psychological phenomenon in which individuals improve or modify their behavior in response to their awareness of being observed.

Lean Operation

A methodology focused on minimizing waste within manufacturing systems while simultaneously maximizing productivity.