Engineering Economics
The alternatives which are standalone solutions for given situations in engineering involve:

All of these
The anticipated life of the assets
A purchase cost (first cost)
The anticipated resalable value (salvage value) and the interest return (rate of return)

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Engineering Economics
Perfect monopoly exists only if:

the single vendor is the only one who has the knowledge of the product
the single vendor is the only one who has the permit to sell
the single vendor gets the absolute franchise of the product
the single vendor can prevent the entry of all other vendors in the market

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Engineering Economics
A construction estimate is used

To produce a statement of the approximate cost
To judge tentatively or approximate value of the project
None of these
To decide an approximation of the value of the project and not the exact cost

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