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    Exam 3: Supply and Demand
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    Use the Following to Answer Questions
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Use the Following to Answer Questions

Question 6

Question 6

Multiple Choice

Use the following to answer questions:
Figure: Oil Use the following to answer questions: Figure: Oil   -(Figure: Oil)  Compared with producing the 20 millionth barrel of oil, the cost of producing the 40 millionth barrel of oil is: A)  $40 lower. B)  $40 higher. C)  approximately the same. D)  $80 higher.
-(Figure: Oil) Compared with producing the 20 millionth barrel of oil, the cost of producing the 40 millionth barrel of oil is:


A) $40 lower.
B) $40 higher.
C) approximately the same.
D) $80 higher.

Correct Answer:

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