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

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

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

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

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Engineering Economics
A leading shoe manufacturer produces a pair of Lebron James signature shoes at a labor cost of P 900.00 a pair and a material cost of P 800.00 a pair. The fixed charges on the business are P 5,000,000 a month and the variable costs are P 400.00 a pair. Royalty to Lebron James is P 1,000 per pair of shoes sold. If the shoes sell at P 5,000 a pair, how many pairs must be produced each month for the manufacturer to break-even?

2890
2712
2632
2.59

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