No. A Physical quantity is the one which can be measured. Further, the measured value will not change if the measurement is carried out at different places under the similar physical conditions. Here, the price of the oil container is fixed (not measured ) by the company and it may vary from place to place. -Prakash Landge, India.
Yes, oil occupies space due to its physical properties as a liquid. When contained in a container or reservoir, oil takes up a specific volume based on its quantity and density.
the price of an oil is Rs 30 per barrel and price elasticity -0.5 an oil embargo reduces the quantity available by 20% use arc elasticity formula to caluculate percentage of increase in the price oil?
An increase in the price of heating oil causes a decrease in the quantity of heating oil demanded.
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The price will vary depending on the container size, store and any promotions currently going. Generally, in the US, the price is $3-$4 for a 24-32 ounce container.
I believe what controls the price of oil, is the quality, and quantity. And by this I mean, you obviously see that the cheaper the oil, the cheaper the price, and vise versa. But by quantity I mean oil is an nonrenewable resource. As you should know, oil is created by the condensing of fossils over an access amount of time, A.K.A centuries. So once we start losing a lot of oil, the prices go up, just as any price would go up on something if the something were at a minimal amount. I aslo believe that we will not run out of the oil, but the oil companies are making you believe that we so that they can explain their high prices with that accuse, when their really cheating you out.
Oil, is an example of an economic good whose producer would increase the quantity supplied if price were to go up. The oil producing nations (o.p.e.c.) can control how much oil is supplied to the international market, and benefits by keeping the supply low, but when the price goes up due to demand going up, then they can increase the supply at the high price. (yahoo answers has this as an answer and it fits)
cylinder. noun. a metal container for gas or liquid.
A metal container for large quantities of oil can be called a drum (usually 55 gallons). If it is a small amount of oil (usually a quart) the container could be called a can. Today, most small quantities of oil are supplied in plastic containers.
they separete on their own if you let the container sit, the oil rises to the top
Weighted average of oil consumed:(rate of oil A * quantity of oil A) + (rate of oil B * quantity of oil B)Quantity of oil (A+B)GCV of oil consumed:(GCV * quantity of oil A) + (GCV * quantity of oil B)Quantity of oil (A+B)
Barrel