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As an oil refiner, you are able to produce $76.16 worth of unleaded petrol from one barrel of Tapis Outback Crude (TOC) oil. Because of its lower sulphur content, you can produce $77.25 worth of unleaded petrol from one barrel of Western Australian Intermediate (WAI) crude.
-Another oil refiner is offering to trade you 10 150 tonnes of TOC crude oil for 10 000 tonnes of WAI crude oil. Assuming you just purchased 10 000 tonnes of WAI crude at the current market price, the total benefit (cost) to you if you take the trade is closest to:
Survey
A systematic method of collecting data from a sample of individuals to gather information and insights on various subjects.
Solicitor's Fee
The charges or fees paid for the services of a solicitor, a type of lawyer in some jurisdictions.
Sale
The act of selling something, transferring ownership of a product or service to a buyer for a price.
Purchase
The act of buying goods or services, involving the exchange of money for ownership or use rights.
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