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Use the Following to Answer Questions: Table: Oil Pumps -(Table: Oil Pumps) Refer to the Table

Question 3

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Use the following to answer questions: Table: Oil Pumps  Oil Pump One  Oil Pump Two  Quantity  (Barrels of Oil)   Marginal  Cost  Quantity  (Barrels of Oil)   Marginal  Cost 15110210212315314420416525518630620735722\begin{array} { c c c c } \hline { \text { Oil Pump One } } && { \text { Oil Pump Two } } \\\begin{array} { c } \text { Quantity } \\\text { (Barrels of Oil) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} & \begin{array} { c } \text { Quantity } \\\text { (Barrels of Oil) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} \\\hline 1 & 5 & 1 & 10 \\2 & 10 & 2 & 12 \\3 & 15 & 3 & 14 \\4 & 20 & 4 & 16 \\5 & 25 & 5 & 18 \\6 & 30 & 6 & 20 \\7 & 35 & 7 & 22 \\\hline\end{array}
-(Table: Oil Pumps) Refer to the table. An oil producer owns two pumps: Oil Pump One and Oil Pump Two. If the market price of oil is $20 per barrel, how many barrels of oil get produced?


A) 4
B) 14
C) 10
D) 6

Correct Answer:

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