An Oil Company Controls Two Oil Fields

question 69

Essay

An oil company controls two oil fields.Field 1 can produce up to 45 million barrels of oil per day,and field 2 can produce up to 55 million barrels of oil per day.At field1,it costs $3 to extract and refine a barrel of oil; at field 2,the cost is $2.The company sells oil to two countries: France and Japan.The shipping costs per barrel are shown below. Each day,France is willing to buy up to 45 million barrels (at $6 per barrel),and Japan is willing to buy up to 35 million barrels (at $6.50 per barrel).Determine how to maximize the company's profit.

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Definitions:

Caloric Intake

The total number of calories consumed through eating and drinking over a period of time.

Verbal Assaults

Verbal assaults are aggressive attacks or abuses directed towards someone using words, which can include yelling, insults, threats, or any use of language meant to intimidate or harm.

Territorial Aggression

A type of behavior exhibited by animals and humans to defend their territory from intruders.

Fight or Flight

A physiological response to perceived harmful events, attacks, or threats to survival, preparing the body to either confront or flee from the threat.