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You work for Stilly Gas Co, which uses natural gas to provide energy to the surrounding area. In 2020, Stilly Gas bought $52 million of LNG imports at a price of $4.00 per MMBtu. In 2022, after the price of LNG skyrocketed, Stilly Gas purchased a total of 15 MMBtu of LNG at the new global price of $10 per MMBtu. What was the Marginal Factor Cost (MFC) for the additional LNG purchased by Stilly Gas Co in 2022? Round your answer to the nearest whole dollar and do not include a dollar sign (ie, XX)

You work for Stilly Gas Co, which uses natural gas to provide energy to the surrounding area. In 2020, Stilly Gas bought $52 million of LNG imports at a price of $4.00 per MMBtu. In 2022, after the price of LNG skyrocketed, Stilly Gas purchased a total of 15 MMBtu of LNG at the new global price of $10 per MMBtu. What was the Marginal Factor Cost (MFC) for the additional LNG purchased by Stilly Gas Co in 2022? Round your answer to the nearest whole dollar and do not include a dollar sign (ie, XX)

Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
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You work for Stilly Gas Co, which uses natural gas to provide energy to the surrounding area. In 2020, Stilly Gas bought $52 million of LNG imports at a price of $4.00 per MMBtu. In 2022, after the price of LNG skyrocketed, Stilly Gas purchased a total of 15 MMBtu of LNG at the new global price of $10 per MMBtu. What was the Marginal Factor Cost (MFC) for the additional LNG purchased by Stilly Gas Co in 2022? Round your answer to the nearest whole dollar and do not include a dollar sign (ie, XX)
Transcribed Image Text:You work for Stilly Gas Co, which uses natural gas to provide energy to the surrounding area. In 2020, Stilly Gas bought $52 million of LNG imports at a price of $4.00 per MMBtu. In 2022, after the price of LNG skyrocketed, Stilly Gas purchased a total of 15 MMBtu of LNG at the new global price of $10 per MMBtu. What was the Marginal Factor Cost (MFC) for the additional LNG purchased by Stilly Gas Co in 2022? Round your answer to the nearest whole dollar and do not include a dollar sign (ie, XX)
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