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Question 9 [1 point} After geological tests indicated the presence of a small pool of light crude on Renamero Island, General Oil negotiated a two-year

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Question 9 [1 point} After geological tests indicated the presence of a small pool of light crude on Renamero Island, General Oil negotiated a two-year extraction license with the country's government. According to the geologists, there are 50,000 (42 US gallon) barrels of oil in the pool. General's estimates of the cost of extraction and transport of the oil in each period (period 't'} as C(Q,)=25>

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