Fundamentals of Engineering Economics LooseLeaf (4th Edition)
Fundamentals of Engineering Economics LooseLeaf (4th Edition)
4th Edition
ISBN: 9780134870076
Author: Park, Chan S.
Publisher: PEARSON
Question
Book Icon
Chapter 1, Problem 1ST
To determine

The incorrect statement from the given list.

Expert Solution & Answer
Check Mark

Explanation of Solution

The incorrect statement is option. A- Economic decisions are time invariant.

Economic decisions are basically dissimilar from the types of decisions

experiencied in engineering design. In a design condition, the engineer will consider the already recognized physical possessions, the chemistry and physics values, engineering design correlations, and engineering decision to arrive at a workable and ideal design.

Economic decisions are usually based on the best information present during the time of the decision and a thorough consideration of the uncertainties in the forecasted informations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Not use ai please
Asap please give detailed solution give explanation for wrong solutions also
Asap please

Chapter 1 Solutions

Fundamentals of Engineering Economics LooseLeaf (4th Edition)

Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:9780190931919
Author:NEWNAN
Publisher:Oxford University Press
Text book image
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Text book image
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Text book image
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Text book image
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education