APSC 221 Midterm 1 Question and answers correctly solved 2024/2025
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Course
APSC 221
Institution
APSC 221
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
_______...
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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