Which of the following is not an element in Engineering Economy? Select one: O a. Interest. O b. Time value of Money. -O c. Marketing. O d. Measure of Economic Worth.
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- Explain, Engineering EconWhich are The four principles of engineering economics?This is Engineering economics subject...Please Answer the following in your own words. 1. Define independent project.2. What is the difference of mutually exclusive versus independent project?3. Differentiate unlimited and budget constrained independent projects.
- What does the term engineering economic decision refer to?Please answer number 3.Engineering EconomicsThe authors mention in a few places in the chapter that benefits are overestimated while costs tend to be underestimated—they called this the “optimist’s bias.” What do they mean by this, and what effect can it have on the fair evaluation of projects?