Use the Information for the Question(s)below

question 58

Multiple Choice

Use the information for the question(s) below. As an oil refiner, you are able to produce $77 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because of its lower sulfur content, you can produce $78 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude. Another oil refiner is offering to trade you 10,150 bbl of Alaska North Slope (ANS) crude oil for 10,000 bbl of West Texas Intermediate (WTI) crude oil. Assuming you currently have 10,000 bbl of WTI crude, the added benefit (cost) to you if you take the trade is closest to ________.

• A)($1550)
• B)$1550
• C)($3475)
• D)$3475

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Decision-Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Evolutionary Theorists

Scholars and scientists who study and develop theories regarding the evolutionary processes that have led to the diversity of life on Earth.

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