Consider production ratios of 2:1:1, 3:2:1, and 5:3:2 for oil, gasoline, and heating oil. Assume that other
Question:
a. Which ratio maximizes the per-gallon profit if oil costs $80/barrel, gasoline is $2/gallon, and heating oil is $1.80/gallon?
b. Suppose gasoline costs $1.80/gallon and heating oil $2.10/gallon. Which ratio maximizes profit?
c. Which spread would you expect to be most profitable during the summer? Which during the winter?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a b c There are 42 gallons of oil in one barrel For each of these production ratios we have to buy ...View the full answer
Answered By
Tobias sifuna
I am an individual who possesses a unique set of skills and qualities that make me well-suited for content and academic writing. I have a strong writing ability, allowing me to communicate ideas and arguments in a clear, concise, and effective manner. My writing is backed by extensive research skills, enabling me to gather information from credible sources to support my arguments. I also have critical thinking skills, which allow me to analyze information, draw informed conclusions, and present my arguments in a logical and convincing manner. Additionally, I have an eye for detail and the ability to carefully proofread my work, ensuring that it is free of errors and that all sources are properly cited. Time management skills are another key strength that allow me to meet deadlines and prioritize tasks effectively. Communication skills, including the ability to collaborate with others, including editors, peer reviewers, and subject matter experts, are also important qualities that I have. I am also adaptable, capable of writing on a variety of topics and adjusting my writing style and tone to meet the needs of different audiences and projects. Lastly, I am driven by a passion for writing, which continually drives me to improve my skills and produce high-quality work.
1+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
