Use the Information for the Question(s)below

question 35

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. Assuming you currently have 10,000 bbl of WTI crude, the total benefits to you if you were to sell the 10,000 bbl of WTI crude and use the proceeds to purchase and refine ANS crude is closest to ________.

• A)$794,274
• B)$780,000
• C)$781,550
• D)$784,091

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Definitions:

Openness

The willingness to consider new ideas, experiences, and perspectives.

Self-Concept

A unifying construct of personality; the most important determinant of human behavior; the basis of present identity and future conduct; the primary factor in character formation.

Art

A skill acquired by experience or study; an endeavor requiring special knowledge and ability, such as the art of leadership.

Time

The indefinite continued progress of existence and events in the past, present, and future regarded as a whole.