Oil Refiners Can Refine a Barrel of Petroleum So That

question 155

Multiple Choice

Oil refiners can refine a barrel of petroleum so that it yields either more home heating oil or more diesel fuel.If the price of diesel fuel falls,there is

• A) an increase in the supply of home heating oil.
• B) a decrease in the supply of home heating oil.
• C) an increase in the quantity of home heating oil supplied.
• D) a decrease in the quantity of home heating oil supplied.
• E) an increase in the demand for home heating oil.

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Definitions:

Invested Rate

The rate of return on an investment, reflecting the annual income earned on the investment expressed as a percentage of its original cost.

Invested Rate

Refers to the interest rate applied to an investment or the return rate achieved on invested capital.

Pay Off

To completely settle a debt or obligation, typically referring to the full repayment of a loan or financial liability.

Economic Value

The worth of a good or service determined by the benefits it provides to the consumer, often reflected in its price on the market.