In May 2011,the Average Price of Gasoline in the United

question 131

Multiple Choice

In May 2011,the average price of gasoline in the United States was $3.76 per gallon,and consumers purchased nearly 5 percent less gasoline than they had during May 2010,when the average price of gasoline was $2.79 per gallon.Based on these figures,when the price of gasoline rose from $2.79 per gallon to $3.76 per gallon,total revenue

• A)increased.
• B)decreased.
• C)did not change.
• D)There is not enough information to determine what happened to total revenue.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Age of Majority

The legally defined age at which an individual is considered an adult, with all the rights and responsibilities thereof.

Uniform Rule

A standardized legal rule that is adopted and applied consistently across various jurisdictions or entities.

Intoxicated Persons

Individuals under the influence of alcohol or drugs to a degree that significantly impairs their judgment, behavior, and functionality.