Solved

Table 17-12 the Table Shows the Town of Driveaway's Demand Schedule for Schedule

Question 16

Multiple Choice

Table 17-12
The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s) incurs a cost of $2 for each gallon sold, with no fixed cost. Table 17-12 The table shows the town of Driveaway's demand schedule for gasoline. Assume the town's gasoline seller(s)  incurs a cost of $2 for each gallon sold, with no fixed cost.   -Refer to Table 17-12. Suppose we observe that the price of a gallon of gasoline in Driveaway is $2. Given this observation, which of the following scenarios is most likely? A) There is one seller of gasoline in Driveaway. B) There are two sellers of gasoline in Driveaway. C) There are a few sellers of gasoline in Driveaway, but the number of sellers exceeds two. D) There are many sellers of gasoline in Driveaway.
-Refer to Table 17-12. Suppose we observe that the price of a gallon of gasoline in Driveaway is $2. Given this observation, which of the following scenarios is most likely?


A) There is one seller of gasoline in Driveaway.
B) There are two sellers of gasoline in Driveaway.
C) There are a few sellers of gasoline in Driveaway, but the number of sellers exceeds two.
D) There are many sellers of gasoline in Driveaway.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions