Suppose That Four Land Owners,A,B,C,and D,own Adjacent Lots

question 24

Multiple Choice

Suppose that four land owners,A,B,C,and D,own adjacent lots.Recently,a pool of oil was discovered that is under all four lots but does not extend beyond the four lots.Below is information on the relationship between number of oil wells,output per well and revenue per well.
-Refer to the information above.If the marginal cost of drilling a well is $94,then each land owner will drill __________ wells for a total of __________ wells.

• A) 2;8
• B) between 1 and 8;between 4 and 32
• C) 4;6
• D) between 4 and 8;between 16 and 32
• E) 8;32

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Definitions:

Biopower

A term by Foucault referring to the practice of modern states to regulate their subjects through "an explosion of numerous and diverse techniques for achieving the subjugations of bodies and the control of populations."

Normalization

The process by which norms come to be accepted and internalized by society members.

Self-fulfilling Prophecy

A belief or expectation that directly or indirectly causes itself to become true, due to positive feedback between belief and behavior.

Passive Euthanasia

The withholding or withdrawal of life-sustaining treatments, allowing a person to die naturally, rather than artificially prolonging life.