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Paul [167]
3 years ago
7

Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there

are no user costs. Assume that each well can produce 100 barrels of oil per day. How much oil will be produced if the market price of oil is $9 per barrel?
Business
1 answer:
saw5 [17]3 years ago
8 0

Answer:

From the information given in the question, producer A will be only producer that can produced the oil if oil market price is $9/barrel as producer B and C will not cover the extraction cost at this price. Hence,  only 100 barrel oil is produced

Explanation:

Given data:

Extraction cost of oil producer A = $8

Extraction cost of oil producer B = $10

Extraction cost of oil producer C = $12

Total production of oil per day = 100

From the information given in the question, producer A will be only producer that can produced the oil if oil market price is $9/barrel as producer B and C will not cover the extraction cost at this price. Hence,  only 100 barrel oil is produced

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<h3>What is Related diversification?</h3>

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2 years ago
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<h3>What is foreclosure consultant?</h3>

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1 year ago
Difference between honors and regular classes
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Honor classes are harder and require a B average. Regular classes are easier even though the same material is included in both.
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Read 2 more answers
On September 30 of last year, Rex received some investment land from Holly as a gift. Holly’s adjusted basis was $50,000 and the
Pachacha [2.7K]

Answer:

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3 years ago
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