In September 2012, the Average Price of Gasoline in the United

question 115

Multiple Choice

In September 2012, the average price of gasoline in the United States was $3.91 per gallon, and consumers purchased nearly 5 percent less gasoline than they had during September 2011, when the average price of gasoline was $3.66 per gallon. Based on these figures, when the price of gasoline rose from $3.66 per gallon to $3.91 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:

Scale The Business

The process of expanding a company's operations to handle a growing amount of work or sales in an efficient manner.

Marketability

The ability of a product or service to be sold or marketed effectively to consumers.

Convertible Debt

A type of financing option that allows the holder to convert the outstanding debt into equity, typically shares of the issuing company, under specified conditions.

Venture Capitalist

A professional investor who provides capital to companies exhibiting high growth potential in exchange for equity or an ownership stake.