Engineering economic analysis can play a role in many types of situations: O a. Making a recommendation about whether jet airplanes for an overnight delivery service should be purchased or leased. O b. All of the others O c. Selecting the most suitable robot for a welding operation on an automotive assembly line. O d. Choosing the best design for a high-efficiency gas furnace.

Mike has spent $500 purchasing and repairing an old fishing boat, which he expects to sell for $800. He discovers that he needs an additional repair, which will cost $400. He can sell the boat as it is now for $300. What should he do? Select one: O a. He should take the $300. O b. He should never sell something for less than its cost. O c. He should complete the repairs and sell the boat. Od. It doesn't matter which action he takes; the outcome is the same either way. Qui G 10

The concept of opportunity cost is that the economic cost of using a factor of production is the alternative use of that factor that is given up. O the cost of production varies depending on the opportunity for technological application. O taking advantage of investment opportunities involves costs. O in a market economy, taking advantage of profitable opportunities involves some money cost.

QUESTION 19 If one fails to account for implicit costs in decision making, then the cost-benefit rule will be flawed because, O A. the costs will be overstated O B. the costs will be understated C. the benefits will be overstated D. the benefits will be understated.

Amjad takes twenty minutes to travel from his home to his work using his car; however, he chose to take a bus, for which he consumed thirty minutes to reach his office. What type of cost is presented in the scenario? a. Nominal cost b. Alternative cost c. Social cost d. Implicit cost

The condition that arises because the availableresources are insufficient to satisfy wantsSelect one:O aa. ScarcityO b. DeflationO c. CredibilityO d. Rationality

Write a word or term that governs the following 1. are benefits given to the firm that originate from outside the firm. 2. exist when costs fall with larger size firm for technical and engineering reasons. 3. result from the way that larger firms can employ specialized workers.

You have been hired as an HR consultant to help implement a high-performance work system at a large firm. To date, you have discussed the need for change with employees and explained strategy and the vision of the future. What should you do next? O Perform a process audit. O Allocate resources. Engage senior management. Tie the HPWS to performance. Use your knowledge of high-performance work systems to answer the following question. You have been hired as an HR consultant to monitor and evaluate a high-performance work system that has been in place for two years at a large firm. What are the best questions to include in your process audit? Check all that apply. Is the organization more competitive than in the past? What is the employee turnover rate? What is the overall satisfaction rate of employees? Are employees being treated fairly so that power differences are minimal?

Quantity Marginal Benefit Marginal Cost $50 $2 $45 $15 3 $39 $16 4 $5 $21 $-18 $38 Using the above table, what is the cost of 4 units? $139 None of the answers is correct. $21 $16 $54 2.

Define economies of scale and explain why they mightarise