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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

Question

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

Quizplus · Accepted Answer

C) Total Benefits
Trade WTI for ANS crude 11eaabab_c0bf_e493_b90e_8dffecacf20d_TB5536_11

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