If you rent a car, you can (1) return it with a full gas tank, (2) return it without filling it and pay $2.75/gallon, or (3) accept a fixed price of $35 for gas. The local price is $3.00/gallon for gasoline, and you expect this car to get 30 miles per gallon. The car has a 15-gallon tank. What choice should you make if you expect to drive 450 miles
If you rent a car, you can (1) return it with a full gas tank, (2) return it without filling it and pay $2.75/gallon, or (3) accept a fixed price of $35 for gas. The local price is $3.00/gallon for gasoline, and you expect this car to get 30 miles per gallon. The car has a 15-gallon tank. What choice should you make if you expect to drive 450 miles
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter3: Your Role As A Consumer
Section3.3: Consumerism
Problem 5R
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- If you rent a car, you can (1) return it with a full gas tank, (2) return it without filling it and pay $2.75/gallon, or (3) accept a fixed price of $35 for gas. The local price is $3.00/gallon for gasoline, and you expect this car to get 30 miles per gallon. The car has a 15-gallon tank. What choice should you make if you expect to drive 450 miles?
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