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Suppose That Four Land Owners,A,B,C,and D,own Adjacent Lots

Question 130

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Suppose that four land owners,A,B,C,and D,own adjacent lots.Recently,a pool of oil was discovered that is under all four lots but does not extend beyond the four lots.Below is information on the relationship between number of oil wells,output per well and revenue per well. Suppose that four land owners,A,B,C,and D,own adjacent lots.Recently,a pool of oil was discovered that is under all four lots but does not extend beyond the four lots.Below is information on the relationship between number of oil wells,output per well and revenue per well.   -Refer to the information above.When the marginal cost of drilling a well is $94,each land owner drills __________ wells and experiences an output of __________ barrels of oil per day per well. A)  8;37 B)  2;95 C)  1;100 D)  2;an unknown number of E)  8;95
-Refer to the information above.When the marginal cost of drilling a well is $94,each land owner drills __________ wells and experiences an output of __________ barrels of oil per day per well.


A) 8;37
B) 2;95
C) 1;100
D) 2;an unknown number of
E) 8;95

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