Use the Information for the Question(s) Below

question 30

Multiple Choice

Use the information for the question(s) below.
As an oil refiner, you are able to produce $76 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because of its lower sulfur content, you can produce $77 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude.
-Assuming you just purchased 10,000 Bbls of WTI crude at the current market price,the total benefit (cost) to you if you were to refine this crude oil and sell the unleaded gasoline is closest to:

• A) $730,600
• B) $770,000
• C) $771,400
• D) $773,908

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Definitions:

Employer

An individual or organization that hires and pays people to work for them.

Legal Enforceability

refers to the capability of a law, contract, or agreement to be applied or compelled to observance by legal processes.

Binding Arbitration Clause

A provision in a contract that requires the parties to resolve disputes through arbitration rather than through litigation, with the arbitrator's decision being final and legally binding.

Beck Doctrine

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