Basics Of Engineering Economy
Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
Question
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Chapter 1, Problem 1P
To determine

The importance of alternative identification in the process of engineering economics.

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Explanation of Solution

Engineering economics is the division of economics which helps in determining the alternatives and identifying in the economical condition. The resources are inadequate and every option has an opportunity cost related within it. The best of loss is not chosen in most of the alternatives. The decision maker will be left with many options. The decision maker should be very clear and correct in evaluating the alternatives feasibly. Hence, the capital can be invested in best options.

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Chapter 1 Solutions

Basics Of Engineering Economy