There Is Only One Petrol Station Within Hundreds of Miles

question 30

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 (in absolute terms) is:

• A) $5.
• B) $2.
• C) $0.
• D) $3.

---

Definitions:

Genes

Units of hereditary information located on chromosomes, made up of DNA, which determine specific traits or characteristics of an organism.

DNA

Deoxyribonucleic Acid, a molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Genotype

Genotype refers to the genetic makeup of an individual, consisting of the alleles inherited from their parents.

Genetic Makeup

The set of genes or genetic information that an individual inherits from their parents, which determines their characteristics and traits.