Use the information for the question(s)below.
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:
A)$774 319
B)$772 500
C)$773 024
D)$773 908

Question

Use the information for the question(s)below.
  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:
A)$774 319 
B)$772 500 
C)$773 024 
D)$773 908

Quizplus · Accepted Answer

The Answer is C

Use the Information for the Question(s)below