Engineering Economics
What is another term for “perfect competition”?

Heterogeneous market
Free-for-all competition
Atomistic competition
No-limit competition

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Engineering Economics
In a cash-flow diagram:

Time 0 is considered to be the present
All of these
Time 1 is considered to be the end of time period 1
A vertical arrow pointing up indicates a positive cash flow

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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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