The Graph Shows the Extraction Costs for TX Oil Company

question 123

Multiple Choice

The graph shows the extraction costs for TX Oil Company in the first year in a situation where it will extract oil from a reserve over two years. If total costs increase and the price of oil stays at $60, then the firm will

• A)extract more oil the current year.
• B)extract less oil the current year.
• C)extract less oil in the next year.
• D)make no change in oil production from one year to the next.

---

Definitions:

Deceit

The act of misleading or deceiving someone intentionally.

False Representation

The act of making an untrue or misleading statement about a product, service, or situation which may deceive others.

Intention of Deceiving

The deliberate act of misleading or tricking someone to gain an advantage or cause harm.

Libel

A written or published defamatory statement or representation that conveys an unjustly unfavorable impression; a form of defamation.