Circle the letter associated with the correct answer and write the correct letter on the line (and use corresponding online answer key to submit your answers...make sure you read the associated...

Extracted text: Circle the letter associated with the correct answer and write the correct letter on the line (and use corresponding online answer key to submit your answers...make sure you read the associated questions and responses). The following data for gasoline sales and prices at a Slurpico Station in West Valley, Washington are from the United States Department of Energy. Prices are in dollars and sales are in gallons per day and driven by the quantity of gallons demanded: Sales 330 340 350 360 370 380 390 400 410 420 430 Price 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00


Extracted text: d. When average gas prices are $3.00 a gallon, what does total revenue per day equal? Formula Calculation Answer е. Based on your results from a, b, c, and d, above, gasoline is considered an (choose "inelastic" or "elastic") good, and if Slurpico continues to raise the price of its gasoline, its total revenue will (choose either "rise," "fall," or "stay the same.")