Engineering Economics “When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the: Law of supply and demand Law of demand Law of supply Law of diminishing return Law of supply and demand Law of demand Law of supply Law of diminishing return ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics The project contractor relies on the cost of the estimate: For preparation of a definitive estimate to help negotiate contract For submission of a competitive bid for a lump-sum contract All of these For a unit price contract For preparation of a definitive estimate to help negotiate contract For submission of a competitive bid for a lump-sum contract All of these For a unit price contract ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What is the term for an annuity with a fixed time span? Annuity certain Annuity due Perpetuity Ordinary annuity Annuity certain Annuity due Perpetuity Ordinary annuity ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics What refers to the need, want or desire for a product backed by the money to purchase it? Product Supply Good Demand Product Supply Good Demand ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics In case of bankruptcy of a partnership, The partners are not liable for the liabilities of the partnership The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities The partners nay sell stock to generate additional capital The partners personal assets are attached to the debt of the partnership The partners are not liable for the liabilities of the partnership The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities The partners nay sell stock to generate additional capital The partners personal assets are attached to the debt of the partnership ANSWER DOWNLOAD EXAMIANS APP
Engineering Economics Capitalized cost of any structure or property is computed by which formula? First cost + cost of perpetual maintenance First cost + interest of first cost First cost + salvage value Annual cost – interest of first cost First cost + cost of perpetual maintenance First cost + interest of first cost First cost + salvage value Annual cost – interest of first cost ANSWER DOWNLOAD EXAMIANS APP
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