Engineering Economics
Aside from many sellers and many buyers, which one is a characteristic of perfect competition?

Perfect information and absence of all economic friction
Free market entry and exit
All of these
Homogeneous product

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Engineering Economics
Which one of the following questions is relevant to the construction estimates?

How much money will the contractor's risk, loosing if he were to submit bid on the raw estimate of cost
Did the estimators use short cut methods which may be unrealistic in their situation
Did the estimators precisely evaluate site conditions
All of these

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