problems ch 6

problems ch 6 - Question 1 0 out of 1 points 2 (Part 1). A...

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Question 1 0 out of 1 points 2 (Part 1). A farmer owns a plot of ground and sells the right to pump crude oil from his land to a crude oil producer. The crude oil producer agrees to pay the farmer $20 a barrel for every barrel pumped from the farmer's land. Note: if your answers are 1,000 or larger, please use the thousands separator (a comma) in your answer - e.g., 1000 = 1,000. Also do not type in a dollar sign. This will ensure your answer is scored correctly. a. During one year 10,000 barrels are pumped. (1) The farmer receives a payment of $ [a] from the crude oil producer. (2) The value added by the farmer is $ [b] . b. The crude oil producer sells the 10,000 barrels pumped to a petroleum refiner at a price of $25 a barrel. (1) The crude oil producer receives a payment of $ [c] from the refiner. (2) The value added by the crude oil producer is $ [d] . c. The refiner employs a pipeline company to transport the crude oil from the farmer's land to the refinery and pays the pipeline company a fee of $1 a barrel for the oil transported. (1) The pipeline company receives a payment of $ [e] from the refiner. (2) The value added by the company is $ [f] .
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Specified Answer for: a 200,000 Specified Answer for: b 200,000 Specified Answer for: c 250,000 Specified Answer for: d 50,000 Specified Answer for: e 10,000 Specified Answer for: f 260,000 Correct Answers for: a 200,000 Correct Answers for: b 200,000 Correct Answers for: c 250,000 Correct Answers for: d 50,000 Correct Answers for: e 10,000 Correct Answers for: f 10,000
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Question 2 0 out of 1 points 2 (Part 2). Note: if your answers are 1,000 or larger, please use the thousands separator (a comma) in your answer - e.g., 1000 = 1,000. Also do not type in a dollar sign. This will ensure your answer is scored correctly. d. The refiner receives oil worth $260,000 from the transporter. From the 10,000 barrels of crude oil, the refiner produces 315,000 gallons of gasoline and various by-products which are sold to distributors and gasoline service stations at an average price of $1 per gallon. (1) The total payment received by the refiner from its customers is $
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problems ch 6 - Question 1 0 out of 1 points 2 (Part 1). A...

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