APSC 221 Midterm 1 Question and answers verified to pass 2024/2025
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Course
APSC 221
Institution
APSC 221
APSC 221 Midterm 1 Question and answers verified to pass 2024/2025 APSC 221 Midterm 1
The general Price-Demand relationship can be expressed as a linear function. - correct answer True
Sunk costs should be included in an engineering economic analysis. - correct answer False
A manufac...
APSC 221 Midterm 1
The general Price-Demand relationship can be expressed as a linear function.
- correct answer ✔True
Sunk costs should be included in an engineering economic analysis. - correct
answer ✔False
A manufacturing company rents a building for $50,000 a year. It makes a
product that costs $21.9 in labour and materials for each unit manufactured.
This product can be sold for $36 per unit. How many units must be sold for the
company to earn a profit of at least $34,500 each year? Note: You can't sell
part of a part. - correct answer ✔$5,993
________ are costs that are difficult to attribute or allocate to a specific output
or work activity. - correct answer ✔Indirect costs
Material costs are an example of costs that are typically included in an
engineering economy study. - correct answer ✔True
______ are used in the preliminary or conceptual design stage of a project. -
correct answer ✔Semi-detailed or budget estimates
__________ is the use of historical cost data and statistical techniques to
predict future costs. - correct answer ✔Parametric cost estimating
A factory purchased a machine for $2,000 in a year when the index was 149.
They are planning on replacing the machine this year when the index is 160.
Determine the cost of the replacement. - correct answer ✔2,147.65
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