Engineering Economics
The Saudi Arabian Oil Refinery developed an oil well which is estimated to contain 5,000,000 barrels of oil at an initial cost of $ 50,000,000. What is the depletion charge during the year where it produces half million barrels of oil? Use Unit or Factor method in computing depletion.

5010000
5000000
5050000
5025000

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Engineering Economics
Perfect monopoly exists only if:

the single vendor can prevent the entry of all other vendors in the market
the single vendor gets the absolute franchise of the product
the single vendor is the only one who has the knowledge of the product
the single vendor is the only one who has the permit to sell

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Engineering Economics
Using factor method, the depletion at any given year is equal to:

Initial cost of property times number of unit sold during the year divided by the total units in property
Initial cost of property divided by the number of units sold during the year
Initial cost of property times number of units sold during the year
Initial cost of property divided by the total units in property

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