Use the following to answer questions: Table: Barrels of Oil 2
-(Table: Barrels of Oil 2) Refer to the table. How many barrels of oil should the company produce to maximize profit?
A) 6
B) 7
C) 8
D) 9

Question

Use the following to answer questions: Table: Barrels of Oil 2 
-(Table: Barrels of Oil 2) Refer to the table. How many barrels of oil should the company produce to maximize profit?
A) 6 
B) 7 
C) 8 
D) 9

Quizplus · Accepted Answer

According to the table, at 8 barrels of oil production, the company will have the maximum profit of $26,400. Any production level below or above 8 barrels will result in lower profit. Therefore, the best choice is to produce 8 barrels of oil.

Use the Following to Answer Questions: Table: Barrels of Oil