Pearson eText for Fundamentals of Engineering Economics -- Instant Access (Pearson+)
Pearson eText for Fundamentals of Engineering Economics -- Instant Access (Pearson+)
4th Edition
ISBN: 9780137524761
Author: Chan Park
Publisher: PEARSON+
Question
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Chapter 1, Problem 1ST
To determine

The incorrect statement from the given list.

Expert Solution & Answer
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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.

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Chapter 1 Solutions

Pearson eText for Fundamentals of Engineering Economics -- Instant Access (Pearson+)

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