In order to improve a certain number of public parks in the city of Los Angeles, a proposed 20 year plan has a first cost of $200,000, M&O costs of $25,000.00 per year. The Parks & Recreation Management Bureau expects that 30,000 new people per year will use the improved parks at an average of 3 hours each. The value of such recreation is $1.25 per hour. If i = 6% per year, utilize the B/C ratio analysis to determine if the project is justified or not (state your final decision!).

Q: Make a copy of your spreadsheet and double the fixed costs. How does this change your answer to…

A: The objective of the question is to understand the impact of doubling the fixed costs on various…

Q: Define different types of costs. Explain Fixed and Variable costs with the help of examples.

A: Types of cost in short run Fixed Costs (FC) It is the cost of fixed factors.The costs which don’t…

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Q: Compare and contrast economies of scope and economies of scale. Be sure to include outside sources.

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Q: FC VC TC MC AFC AVC ATC 160 65 3 10 20 4 55

A: We know, AFC (average fixed cost) = TFC/Q where TFC = Total fixed cost Q = output

Q: Describe the four principles of engineering economics?

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Q: Give some examples of the term Mixed Costs?

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Q: How do you find the marginal costs (questions d and e)

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