Question 1: Select true or false for each of the following statements &correct;

Question

Question 1: Select true or false for each of the following statements &correct; false statements: True False Statement I. The purchase price of a machine that is used to manufacture a product is considered an indirect cost 2. The lowest potential for life-cycle cost savings of a product/project is during the early stages of the acquisition phase 3. The monthly operation and maintenance costs of a facility are considered as recurring costs 4. Interest costs on borrowed capital are considered variable costs 5. In the engineering economic analysis procedure, performance monitoring and post-evaluation of results requires that the initial projected outcomes of the selected alternative be subsequently compared with the actual results achieved Question 2: Select the best possible answer: In the engineering economic analysis procedure, problem definition involves: A. Problem recognition B. Problem formulation C. Problem Evaluation D. All the above 1. For solutions to engineering problems to be economically acceptable, these solutions, among other things, must: A. Demonstrate a positive balance of short-term benefits over long-term costs, 2. represent creative and innovative technology and ideas, and promote the survival of an organization B. Demonstrate a positive balance of long-term benefits over long-term costs represent creative and innovative technology and ideas, promote the survival of an organization, and allow identification and analysis of their estimated outcomes Demonstrate a positive balance of long-term benefits over initial investment costs and represent creative and innovative technology and ideas C. D. Represent creative and innovative technology and ideas and promote the survival of an organization 3. Which of the following statements is incorrect: A. B. When alternatives are compared for one year or less, if revenues and other The unit price for a product decreases when the demand increases economic benefits are present and vary among alternatives, choose the alternative that maximizes profitability based on the number of defect-free units of output C. Present economy studies can be used for material selectiorn D. None of the above is correct

Explanation / Answer

Q1. False, True, True, False, True

Q2. 1. The correct answer is A.

2. The correct answer is B.

3. The correct answer is D

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