Pearson eText for Engineering Economy -- Instant Access (Pearson+)
17th Edition
ISBN: 9780137533138
Author: William Sullivan, Elin Wicks
Publisher: PEARSON+
expand_more
expand_more
format_list_bulleted
Question
Chapter 8, Problem 29P
To determine
Calculate the time period.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
A company selling widgets has found that the number of items sold, x, depends upon the price, p at which
80000
they're sold, according the equation z :
(0.6p + 1)?
Due to inflation and increasing health benefit costs, the company has been increasing the price by $0.04
per month. Find the rate at which revenue is changing when the company is selling widgets at $7 each.
Revenue is decreasing by
dollars per month
Hint: Give your answer as a positive value.
Suppose y = 4w7/(x5z3). Suppose that w increases 5%, x increases 1% , and z increases 1% . By what percent should y increase? Your answer should be an integer with a % sign assumed to follow (e.g., if you wish to say 48 percent, write 48). The percent increase in y should be approximately.
Kim works as a physiotherapist. She currently earns a salary of $6479 per month. The only costs associated with working as a
physiotherapist are fixed costs (e.g. maintaining her licence to practice physiotherapy) of $289 per year. Due to changes in the health
care sector, Kim is deciding whether she should become a general practitioner instead. She estimates her salary as a general
practitioner will be $8563 per month.
What is Kim's monthly economic loss from working as a physiotherapist? Assume the same fixed costs apply to both the physiotherapist
and general practitioner options, because the licences for physiotherapists and general practitioners cost the same amount of
money. Answer as a positive number to the nearest whole value (with no decimal places, $or - signs, spaces or commas).
Chapter 8 Solutions
Pearson eText for Engineering Economy -- Instant Access (Pearson+)
Ch. 8 - The seasonal energy efficiency ratio (SEER) is 13...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Prob. 6PCh. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Prob. 10P
Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Prob. 13PCh. 8 - A commercial building design cost 89/square-foot...Ch. 8 - Prob. 15PCh. 8 - Prob. 16PCh. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Prob. 20PCh. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Prob. 39PCh. 8 - Prob. 40PCh. 8 - Prob. 41PCh. 8 - Prob. 42PCh. 8 - Prob. 43PCh. 8 - Your company manufactures circuit boards and other...Ch. 8 - Prob. 45PCh. 8 - Prob. 46PCh. 8 - Prob. 47PCh. 8 - Prob. 48PCh. 8 - Prob. 49SECh. 8 - Prob. 50SECh. 8 - Prob. 51SECh. 8 - Prob. 52CSCh. 8 - Suppose the cost of electricity is expected to...Ch. 8 - Prob. 54CSCh. 8 - Prob. 55FECh. 8 - Prob. 56FECh. 8 - Prob. 57FECh. 8 - Prob. 58FECh. 8 - Prob. 59FECh. 8 - Prob. 60FECh. 8 - Prob. 61FE
Knowledge Booster
Similar questions
- Planning for a major redesign, Itumeleng collected data at her store on several consecutive Saturday mornings. She noticed that customers arrived at the checkout at a rate of approximately 100 per hour. Fully 20 percent of the customers had 10 items or less. Those people took about 2 minutes to serve on average, while customers with more than 10 items took about 4 minutes to process. Itumeleng expects service time to improve when universal price code readers are installed in the new design. Help Itumeleng with her design for the system,arrow_forwardDue to inflation in Australia in December 2019, the price for petrol increased from AUD1.35 to AUD 1.45. This caused petrol consumption to decrease from 2500 litres to 2450 litres at a 7-Eleven Petrol Station in Sydney.Also, when the price for Hyundai 7.5kW Inverter Split System Air Conditioner (ReverseCycle) increased from AUD 950.00 to AUD 990.00; demand for these air conditioners fell from 2500 units to 2000 units.Following this condition, answer the questions below.i. Using the mid-point formula calculate the price elasticity of demand for petroland Hyundai 7.5kW Inverter Split System Air Conditioner (Reverse Cycle). ii. Is the price elasticity of demand: elastic, unit elastic or inelastic for eachcommodity (petrol and Hyundai 7.5kW Inverter Split System Air Conditioner(Reverse Cycle)? iii. Suppose the government decides to increase tax for petrol and Hyundai 7.5kWInverter Split System Air Conditioner (Reverse Cycle). Use two diagrams toexplain the incidence of the tax increase for…arrow_forwardDue to inflation in Australia in December 2019, the price for petrol increased from AUD 1.35 to AUD 1.45. This caused petrol consumption to decrease from 2500 litres to 2450 litres at a 7-Eleven Petrol Station in Sydney. Also, when the price for Hyundai 7.5kW Inverter Split System Air Conditioner (Reverse Cycle) increased from AUD 950.00 to AUD 990.00; demand for these air conditioners fell from 2500 units to 2000 units. Following this condition, answer the questions below.i. Using the mid-point formula calculate the price elasticity of demand for petroland Hyundai 7.5kW Inverter Split System Air Conditioner (Reverse Cycle). ii. Is the price elasticity of demand: elastic, unit elastic or inelastic for eachcommodity (petrol and Hyundai 7.5kW Inverter Split System Air Conditioner (Reverse Cycle)? iii. Suppose the government decides to increase tax for petrol and Hyundai 7.5kWInverter Split System Air Conditioner (Reverse Cycle). Use two diagrams to explain the incidence of the tax…arrow_forward
- Gerry likes driving small cars and buys nearly identical ones whenever the old one needs replacing. Typically, he trades in his old car for a new one costing about $15,000. A new car warranty covers all repair costs above standard maintenance (standard maintenance costs are constant over the life of the car) for the first two years. After that, his records show an average repair expense (over standard maintenance) of $2600 in the third year (at the end of the year), increasing by 50 percent per year thereafter. If a 30 percent declining-balance depreciation rate is used to estimate salvage values and interest is 8 percent, how often should Gerry get a new car? Click the icon view the table of compound interest factors for discrete compounding periods when i = 8%. Gerry should get a new car every years, which has the V EAC of s (Round to the nearest whole number as needed)arrow_forwardYou plan to purchase a car for $28,000. Its market value will decrease by 20% per year. You have determined that the IRS-allowed mileage reimbursement rate for business travel is about right for fuel and maintenance at $0.505 per mile in the 1st year. You anticipate that it will go up at a rate of 10% each year, with the price of oil rising, influencing gasoline, oils, greases, tires, and so on. You normally drive 15,000 miles per year. Your MARR is 9%.arrow_forwardThe price of coal in 2020 is $58 per ton. The annual inflation between 2020 and 2030 is expected to be 5.6%. The price of coal is assumed to escalate at an annual average rate of 7.1% as a result of resource depletion (i.e., this escalation is independent of inflationary effects). What is the price of coal in the year 2030, expressed in 2000 dollars? (your answer must be rounded-off to the nearest dollars per billion joules, i.e., no decimal places)arrow_forward
- Bell Greenhouses has estimated its monthly demand for potting soil to be the following:N = 400 + 4Xwhere N = monthly demand for bags of potting soilX = time periods in months (March 2006 = 0)Assume this trend factor is expected to remain stable in the foreseeable future. The following table contains the monthly seasonal adjustment factors, which have been estimated using actual sales data from the past five years:MONTH ADJUSTMENT FACTOR (%)March +2June +15August +10December −12a. Forecast Bell Greenhouses’ demand for potting soil in March, June, August, and December 2007.b. If the following table shows the forecasted and actual potting soil sales by Bell Greenhouses for April in five different years, determine the seasonal adjustment factor to be used in making an April 2008 forecast.YEAR FORECAST ACTUAL 2007 500 515 2006 452…arrow_forwardThe price of coal in 2020 is $41 per ton. The annual inflation between 2020 and 2030 is expected to be 4.0%. The price of coal is assumed to escalate at an annual average rate of 4.7% as a result of resource depletion (i.e., this escalation is independent of inflationary effects). What is the price of coal in the year 2030, expressed in 2000 dollars?arrow_forwardYour father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $60,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24 additional annual payments. Annual inflation is expected to be 6%. He currently has $190,000 saved, and he expects to earn 9% annually on his savings. How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Do not round your intermediate calculations. Round your answer to the nearest cent.arrow_forward
- Monthly sales of a particular personal computer are expected to decline at the following rate of S'(t) computers per month, where t is time in months and S(t) is the number of computers sold each month. S'(t)= -25t^(2/3) The company plans to stop manufacturing this computer when monthly sales reach 900 computers. If monthly sales now (t=0) are 2,100 computers, find S(t). How long will the company continue to manufacture this computer?arrow_forwardA Flexible Savings Account (FSA) plan allows you to put money into an account at the beginning of the calendar year that can be used for medical expenses. This amount is not subject to federal tax. As you pay medical expenses during the year, you are reimbursed by the administrator of the FSA until the money is exhausted. From that point on, you must pay your medical expenses out of your own pocket. On the other hand, if you put more money into your FSA than the medical expenses you incur, this extra money is lost to you. Your annual salary is $80,000 and your federal income tax rate is 30%. [1] Assume that your medical expenses in a year are normally distributed with mean $2000 and standard deviation $500. Build an @RISK model in which the output is the amount of money left to you after paying taxes, putting money in an FSA, and paying any extra medical expenses. Experiment with the amount of money put in the FSA, using a RISKSIMTABLE function. [2] Rework part a, but this time assume…arrow_forwardTork teaches guitar lessons in the guitar store, where he makes $32,000 per KSrear (which we can think of being paid out at the end of each year). He could reasily repurpose his skills to become a music teacher in the public schools, but doing so would require him to get a master's degree. Starting a master's program today would cost $24,000 immediately and $24,000 one year from now in tuition, and takes two full years to complete. If Tork gets his degree, he'll work in the public schools for 30 years thereafter and get $41,000 per year (paid at the end of the year). Otherwise, Tork will stay at his current job for the next 32 years. Should Tork get his master's? You may evaluate the options jointly or separately. Tork's discount rate is 3.7%:.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education