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Find the shadow price of crude oil using given model

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Reference no: EM131644143

Question: Use Solver Table in Chandler's blending model to find the shadow price of crude oil 1-that is, the amount Chandler would be willing to spend to acquire more crude oil 1. Does this shadow price change as Chandler keeps getting more of crude oil 1? Answer the same questions for crude oil 2.

Reference no: EM131644143

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