By what percentage has price increased going from crude oil, Microeconomics

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By what percentage has price increased going from crude oil

An oil company refines crude oil valued at $62/barrel and sells it to motorists at its retail outlets. The price is $2.90/U.S. gallon ($0.77/L). On a per unit basis (e.g., per gallon or per liter), by what percentage has the price increased going from crude oil before refining to final sale to the motorist? Also what happens when oil at $100/barrel and retail outlet price at $4.00/gal ($1.06/L)?

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Microeconomics: By what percentage has price increased going from crude oil

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Microeconomics: By what percentage has price increased going from crude oil

Reference No:- TGS048923

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Deferred income taxes based on the temporary differences

Q : The numbers vary depending on the source

Q : How much are sales at the mall location

Q : Report as current provision for income tax expense

Q : By what percentage has price increased going from crude oil

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Q : Long-term written sales contract between alder, inc.

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Ask an Expert for Answer!!

Microeconomics: By what percentage has price increased going from crude oil

Reference No:- TGS048923

Recent Questions Asked Microeconomics

Q : Deferred income taxes based on the temporary differences

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