ENGINEERING ECO ANALYSIS W/STUDY GUIDE
ENGINEERING ECO ANALYSIS W/STUDY GUIDE
13th Edition
ISBN: 9780190693053
Author: NEWNAN
Publisher: Oxford University Press
Question
Book Icon
Chapter 13, Problem 1QTC
To determine

List economic and non- economic factors that are to be considered while allocating funds to upgrade and replace deficient bridges.

Expert Solution & Answer
Check Mark

Explanation of Solution

Deficient bridge: Structurally deficient means that there are certain elements of the bridge that needs to be monitored consistently and/or it requires to be repaired. If a bridge is regarded as "structurally deficient" doesn’t mean that it is likely to collapse or that it is unsafe to use but It means that the bridge should be inspected, monitored, and should be maintained for safe usage

Upgrade: means to improve the quality of that bridge. So, as to make it a strong one.

Replace: to build a new one in place of the old one.

So, an engineer has to decide that if a bridge is structurally deficient that whether he should spend money to replace it or to restore it.

While upgrading and replacing the deficient bridges there are a number of economic and non-economic factors that need to be considered are as follows:

Economic factors that need to be considered are:

  1. Labor
  2. Capital
  3. Technological progress

Non -economic factors are:

  1. Culture
  2. Role of government
  3. Tradition
  4. Society as a whole
  5. Religion.

Conclusion:

So, all the above mentioned factors are to be considered so that it does not hurt the sentiments of any person. So that there is overall growth of the society.

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
Fems A and B are duopolist producers of widgets. The cost function for producing widgets C(Q)-Q² The market demand function for widgets i Q-192P Qmeasures thousands of widgets per year, Competition in the widget market is described by the Coumot model Instructions: Round your answers to 2 decimal places a What are the firms' Nanh equbrium output? b. What is the resulting price? c. What do they each emp How does the price compare to marginal cost? Price is ck to marginal cost How do the price and the two fems' joint profit compare to the monopoly price and prof Compared to the monopoly price, the Cournot price is to sed. Compared to the monopoly profit, the joint profit of the two fems to select
Suppose the marginal social cost of television sets is $100. This is constant and equal to the average cost of television sets. The annual demand for television sets is given by the following equation: Q = 200,000-500P, where Qis the quantity sold per year and P is the price of television sets. a) If television sets are sold in a perfectly competitive market, calculate the annual number sold. Under what circumstances will the market equilibrium be efficient? b) Show the losses in well-being each year that would result from a law limiting sales of television sets to 100,000 per year. Show the effect on the price, marginal social benefit, and marginal social cost of television sets. Show the net loss in well-being that will result from a complete ban on the sales of television sets. (show with graphs.)
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