Some of the following problems would be suitable for solution by engineering economic analysis. Which ones are they? (a) Would it be better to buy a hybrid car? This decision is more likely economical than emotional, a hybrid car will cost more now but it will be efficient and overall costs will be less in future operations. It has has high fuel efficiency. (b) Should an automatic machine be purchased to replace three workers now doing a task by hand? This decision is more economical than emotional, an automatic machine will cost more now, but less in the future (with fewer maintenance costs). On the other hand, three workers will seem to be cheaper in the short term but in long term (in future) their overall costs will be higher
October 23, 2018
Select an issue from the following list: nursing shortage and nurse turn-over, nurse staffing ratios, unit closures and restructuring, use of contract employees (i.e., registry and travel nurses), continuous quality improvement and patient satisfaction, and magnet designation.
October 23, 2018

As in problem 1-18, state the correct economic criterion for each of the following situations. a. The engineering student club raffled off a donated car, tickets sold for $5 each or three for $10. When the students were selling tickets, they noted that many people had trouble deciding whether to buy one or three tickets. This indicates that the buyer’s criterion was Maximize the benefits

As in problem 1-18, state the correct economic criterion for each of the following situations.
a. The engineering student club raffled off a donated car, tickets sold for $5 each or three for $10. When the students were selling tickets, they noted that many people had trouble deciding whether to buy one or three tickets. This indicates that the buyer’s criterion was Maximize the benefits
b. Profit maximization
c. Minimizing costs
d. Maximizing benefits
2-2: One of your firm’s suppliers discounts prices for larger quantities. The first 1000 parts are $13 each. The next 2000 are $12 each. All parts in excess of 3000 cost $11 each. What are the average cost and marginal cost per part for the following quantities? A. 500, B.1500, C.2500, D.3500.

 

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