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:

Social Cognition

Refers to the processes through which people understand and make sense of others and themselves in social contexts.

Bystander Effect

A social psychological phenomenon wherein individuals are less likely to offer help to a victim when other people are present.

Selective Perception

Selective perception is the process by which individuals perceive what they want to in media messages while ignoring opposing viewpoints, based on their background, beliefs, and attitudes.

Response Characteristic

Features or aspects of an individual's reactions or responses to stimuli or situations, often studied in psychological assessments.