ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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According to Figure 2.4, as the economy moves from Point A to Point E, the
opportunity cost of motorcycles, measured in terms of hybrid cars
B
F
E
Motorcycles
O remains constant.
O increases.
decreases.
O initially increases, then decreases.
Hybrid cars
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Transcribed Image Text:According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars B F E Motorcycles O remains constant. O increases. decreases. O initially increases, then decreases. Hybrid cars
SCENARIO 1.2: A scientist wants to understand the relationship between
automobile emissions and the level of global warming. The scientist collects
data on the volume of automobile emissions and the levels of global
warming over time. The scientist concludes that a 1% increase in automobile
emissions causes a 0.0003% increase in average global temperatures. From
this information he concludes that the automobile emissions are harmful to
the environment and should be reduced to stop the increase in global
temperatures.
Refer to Scenario 1.2. The statement that a 1% increase in the automobile
emissions causes a 0.0003% increase in average global temperatures is an
example of
normative economics.
marginal economics.
the fallacy of logic.
O positive economics.
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Transcribed Image Text:SCENARIO 1.2: A scientist wants to understand the relationship between automobile emissions and the level of global warming. The scientist collects data on the volume of automobile emissions and the levels of global warming over time. The scientist concludes that a 1% increase in automobile emissions causes a 0.0003% increase in average global temperatures. From this information he concludes that the automobile emissions are harmful to the environment and should be reduced to stop the increase in global temperatures. Refer to Scenario 1.2. The statement that a 1% increase in the automobile emissions causes a 0.0003% increase in average global temperatures is an example of normative economics. marginal economics. the fallacy of logic. O positive economics.
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