Use the Information for the Question(s) Below

question 96

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.
Another oil refiner is offering to trade you of Alaska North Slope (ANS) crude oil for of West Texas Intermediate (WTI) crude oil. Assuming you just purchased of WTI crude at the current market price, the total revenue (cost) to you if you take the trade is closest to ________.

• A) $755,650
• B) $766,150
• C) $767,600
• D) $776,650

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Definitions:

Literacy Test

Historically, a test administered to potential voters to assess their literacy and understanding of civic topics as a condition for voting, often used to disenfranchise racial and ethnic minorities.

Non-Freeholders

Individuals who do not own land, often excluded from certain rights or privileges in historical contexts, such as voting.

Land Ownership

The legal right to possess, control, and use a specific piece of land.