Answered: TABLE 14-11 Data for Problem 14-11…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The town of Whoopup has decided that it needs a new public library. Although the city leaders have made this decision, the decision of location of the library is still an open question. Knowing that you have a back ground in economic decision making, they selected you to formulate their decision problem. You gather data from the city leaders to determine the important attributes to consider in the decision; you then acquire information for both sites and present it in teh shown Table . Use the tools introduced in this chapter to make a site recommendation. Prepare to defend your analysis.

TABLE 14-11 Data for Problem 14-11
Sites
Considerations
Site 1
Site 2
Monetary
Land
$600,000
$950,000
Construction
Road construction
$2,300,000 $2,200,000
$1,500,000
$750,000
for access
Nonmonetary
Distance from
5 miles
2 miles
population center
Maintenance
Medium
High
Homes displaced
Environmental impact Medium
Accessibility of
3
5
Low
Moderate Moderate
property

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