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APSC 221 Midterm 1 Question and answers correctly solved 2024/2025 $14.39
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APSC 221 Midterm 1 Question and answers correctly solved 2024/2025
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APSC 221 Midterm 1 Question and answers correctly solved 2024/2025 APSC 221 Midterm 1, MC Qs Sunk costs should be included in an engineering economic analysis. T or F - correct answer False The arrow on the graph is pointing to the breakeven point. T or F - correct answer True _______...

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  • October 6, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
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APSC 221 Midterm 1, MC Qs
Sunk costs should be included in an engineering economic analysis. T or F -
correct answer ✔False


The arrow on the graph is pointing to the breakeven point. T or F - correct
answer ✔True


_______ are costs that are difficult to attribute or allocate to a specific output
or work activity.


Standard costs
Indirect costs
Variable costs
Sunk costs - correct answer ✔Indirect costs


One reason why perfect monopolies rarely occur in practice is because: -
correct answer ✔Few products are so unique that substitutes cannot be
used.


A license fee is an example of an incremental cost. T or F - correct answer
✔False


The general price-demand relationship can be expressed as a linear function -
correct answer ✔True


when alternatives for acomplishing a specific task are being compated over
one year or less (time value of money is ignored) they can be referred to as: -
correct answer ✔present economy studies

,an index is a dimensionless number that indicated how a cost or price has
changed w time w respect to a base year T or F - correct answer ✔True


the power - sizing tecnique is sometimes referred to as a linear model T or F -
correct answer ✔false


what does Cn stand for in this equation
cn=ck(in/ik) - correct answer ✔Estimated cost of price of the item in year
being analyzed


the ___ defines a maximum time period and established a range of cost and
revenue elements that need to be considered in developing cash flows -
correct answer ✔life cycle


compound interest takes the interest accumulated in one interest period and
adds it to the principle amount used to. calculate interest in the next period T
or F - correct answer ✔True


effective interest rate is the conventional method of stating the annual interest
rate T or F - correct answer ✔False


market equivilence is a consequence of the ability to ___ one cash flow for
another at zero cost - correct answer ✔exchange


the base unit of time over which an interest rate is calculated is called the -
correct answer ✔interest period

, CERs are excellent predictors of cost if they are correctly developed from
good historical data T or F - correct answer ✔true


which tecnique sums the product of several quantities or components and
adds these to any components estimated directly? - correct answer ✔factor
technique


___ is the use of historial cost data and statistical techniques to predict future
cost - correct answer ✔parametric cost estimating


the WBS is sometimes called a work element structure T or F - correct
answer ✔true


____ are used in the preliminary or conceptual design stage of a project -
correct answer ✔semi-detailed or budget estimated


material costs are an example of costs that are typically included in an
engineering economy study T or F - correct answer ✔true


mathematical equivalence is a consequence of the mathematical relationship
between _______. - correct answer ✔time and money


On a cash flow diagram, the vertical arrows pointing upwards represent a
negative cash flow. T or F - correct answer ✔False


A cash flow diagram summarizes the timing and magnitude of cash flows as
they occur over time. T or F - correct answer ✔True

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