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1. The figure below is historical production data from the Kuparuk River field. The OOIP is 5,332,979 Mstb and cumulative recovery through 12/31/2004 is 1,971,200,654 stb.
A. Estimate the decline parameters, b, qi, and D.
B. If the field economic rate is 25,000 stb/day, determine
(i) the time to reach the economic limit
(ii) the ERR
(iii) the EUR
(iii) the recovery factor at the economic limit.
Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
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whit is mean super normal profit
1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
mang ki loch kya hai
Explain about the optimal consumption rule. The optimal consumption rule: While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all
List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
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