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:

Economic Difficulties

Pertains to financial challenges and hardships that affect individuals, families, businesses, or economies.

Piaget's Approach

A theory of cognitive development proposed by Jean Piaget, emphasizing the stages through which children progress as they develop and acquire knowledge.

Cognitive Development

The process through which individuals acquire and evolve in their thinking skills, problem-solving, and understanding the world around them from infancy through adulthood.

Formal Operational

The stage in Piaget's theory of cognitive development where individuals gain the ability to think abstractly, reason logically, and use deductive reasoning, typically starting around age 12.