Oil spill cleanup costs for a nation or region can be estimated by taking the average cost for the specified region and multiplying it by various modification factors" that are a function of oil type (light crude, heavy crude, No 4 fuel, etc.), spill size (< 34 tons, 34-340 tons. etc.), location type (offshore, nearshore, in-port), cleanup method (dispersant, burning, manual), and extent of shoreline oiling (0-1 km. 2-5 km, etc.). For an average cost of $23.100 per liter and modifiers for a region in the United States of 1.350, 0.65, 1.28, 0.25, and 1.320 for oil type, spill size, location type, cleanup method, and extent of shoreline oiling, respectively, determine the estimated cleanup cost per liter of an oil spill in the region of the United States (Round the final answer to three decimal places) The cleanup cost per liter of an oil spill in the region of the United States is estimated to be $
Oil spill cleanup costs for a nation or region can be estimated by taking the average cost for the specified region and multiplying it by various modification factors" that are a function of oil type (light crude, heavy crude, No 4 fuel, etc.), spill size (< 34 tons, 34-340 tons. etc.), location type (offshore, nearshore, in-port), cleanup method (dispersant, burning, manual), and extent of shoreline oiling (0-1 km. 2-5 km, etc.). For an average cost of $23.100 per liter and modifiers for a region in the United States of 1.350, 0.65, 1.28, 0.25, and 1.320 for oil type, spill size, location type, cleanup method, and extent of shoreline oiling, respectively, determine the estimated cleanup cost per liter of an oil spill in the region of the United States (Round the final answer to three decimal places) The cleanup cost per liter of an oil spill in the region of the United States is estimated to be $
Chapter1: Making Economics Decisions
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Transcribed Image Text:Oil spill cleanup costs for a nation or region can be estimated by taking the average cost for the specified region and multiplying it by
various modification factors" that are a function of oil type (light crude, heavy crude, No 4 fuel, etc.), spill size (< 34 tons, 34-340 tons.
etc.), location type (offshore, nearshore, in-port), cleanup method (dispersant, burning, manual), and extent of shoreline oiling (0-1 km.
2-5 km, etc.). For an average cost of $23.100 per liter and modifiers for a region in the United States of 1.350, 0.65, 1.28, 0.25, and
1.320 for oil type, spill size, location type, cleanup method, and extent of shoreline oiling, respectively, determine the estimated
cleanup cost per liter of an oil spill in the region of the United States (Round the final answer to three decimal places)
The cleanup cost per liter of an oil spill in the region of the United States is estimated to be $
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