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Engineering Economics Homework Help | Engineering Economics Assignment Help
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Engineering economics is a dynamic field that explores the complex interconnection between economic computations and concepts through the perspective of engineering. This discipline involves the activities of drafting, calculating, and measuring financial outcomes to achieve specific goals. For business administration students, the capacity to apply economic concepts and evaluate the financial implications of engineering projects is crucial. TutorBin recognizes the importance of mastering engineering economics and provides comprehensive engineering economics homework help for students around the world.
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TutorBin is your go-to platform for top-notch engineering economics homework help! We understand the challenges students face when tackling complex economic concepts within the engineering realm, and our dedicated team of subject-specific experts is here to guide you through it. Our online platform provides the best assistance for students seeking comprehensive support in engineering economics. Whether you're grappling with cost analysis, time value of money, or investment appraisal, our experienced tutors are equipped to provide insightful solutions tailored to your academic needs. With TutorBin, you can confidently navigate the intricacies of engineering economics, ensuring academic success and a deeper understanding of the subject.
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Who Can Benefit from Our Online Engineering Economics Homework Help?Our engineering economics assignment help is tailored to benefit a wide range of students seeking online assistance. Whether you're an undergraduate Struggling with the fundamentals or a graduate student diving into advanced topics, our platform is designed to cater to your specific needs. Engineering students, business majors, and anyone pursuing a course that incorporates economic principles within the engineering context can benefit significantly from our services. Our team of expert tutors is well-equipped to guide learners at various levels, ensuring clarity in understanding and excellence in academic performance. Regardless of your proficiency in the subject, if you seek comprehensive support and a deeper grasp of engineering economics, our online homework help is the ideal resource for you.
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Challenges Where Students Need Engineering Economics Assignment HelpFacing challenges with your engineering economics homework? TutorBin identifies common hurdles where students often seek assistance with their engineering economics assignments:
1. Time Value of Money (TVM) Concepts
Students may struggle with grasping the complexities of time value of money, including discounted cash flows, present value, and future value calculations.
2. Cost-Benefit Analysis
Understanding and applying cost-benefit analysis principles can be challenging. This involves evaluating the economic feasibility of projects by comparing their costs and benefits.
3. Economic Decision Making
Making sound decisions based on economic principles and analyzing the financial implications of engineering choices can pose difficulties for students.
4. Risk and Uncertainty in Engineering Projects
Managing risk and uncertainty in engineering projects, especially in terms of financial outcomes, is a complex aspect that students may find challenging.
5. Economic Evaluation Techniques
Mastery of various economic evaluation techniques, such as net present value (NPV), internal rate of return (IRR), and payback period, is crucial but can be demanding for some students.
6. Environmental and Ethical Considerations
Incorporating environmental and ethical considerations into economic analyses is becoming increasingly important. Students may seek help in understanding how to integrate these factors into their engineering economic assignments.
Engineering Economics Topics & Concepts Covered
| Topics | Concepts |
|---|---|
| Time Value of Money | Present Value & Future Value |
| Cost of Capital | Weighted Average Cost of Capital (WACC) |
| Cash Flow Analysis | Net Present Value (NPV) |
| Financial Decision Making | Internal Rate of Return (IRR) |
| Project Evaluation & Selection | Payback Period |
| Depreciation Methods | Straight-Line Depreciation |
| Break-Even Analysis | Double-Declining Balance Depreciation |
| Risk & Uncertainty in Decision Making | Contribution Margin |
Engineering Economics Homework Help
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6. WACC and Capital Budgeting Help
Access assistance in understanding concepts like Weighted Average Cost of Capital (WACC) and Capital Budgeting.
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FAQs on Engineering Economics Help Searched By Students
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Recently Asked Engineering Economics Questions
Expert help when you need it- Q1: 1. Describe the generic product development process and the product design for manufacture and assembly. Explain each of these processes and provide an example of their application. Which one do you think is more important in customer-focused product development?See Answer
- Q2: 8) For each of the following, list whether the topic is microeconomic or macroeconomic in nature: (а.)The price of gasoline. (Ъ.)The national unemployment rate. (c.)The quantity of new cars sold each year. (d.)The wage rate paid to steel workers. (e.)The amount of national output in an economy.See Answer
- Q3: What are the different dimensions of the terms engineering and management? Discuss.See Answer
- Q4: 5. What is the importance of motion study techniques? Apply motion study techniques to any task that involves a series of motions. Use a task that you are familiar with in an organization of your choice.See Answer
- Q5: 0. As made clear in this chapter, engineers and engineer managers have made strong contributions to management theory and practice. List the engineers and engineer managers identified in this chapter together with their contributions, and add any others you may know of.See Answer
- Q6: What was the positive value of Max Weber's model of "bureaucracy"?See Answer
- Q7: There is firm in a perfectly competitive market and we know the followings p = 70 \mathrm{TC}=2 \mathbf{q}^{2}-\mathbf{3 0 q}+\mathbf{4 0 0} ; \mathbf{M C}=\mathbf{4} \mathbf{q}-\mathbf{3 0} What is the profit maximizing quantity? What is total profit of the firm? What will happen in the long run in the market?See Answer
- Q8: . briefly explain the Australian tax law implications of each of the following scenarios,by cifing relevant tax legislation and case law where appropriate. 1. XYZ Ltd is incorporated in UK and distributes watches in the Australian market. Half of the board of directors of XYZ Ltd resides in UK and the remaining board members reside in Australia. The board holds the majority of its meetings in Australia, where it makes high level decisions regarding the company's major contracts, finance, general policies and strategic directions in respect of its business operations. Is XYZ Ltd an Australian Resident for tax purposes and provide the explanation? 2. Jenny establishes a sole accounting practice on 1 July 2017 and sets up a small office with a secretary. On 1 July 2017, her sole practice merges with an accounting firm comprising 60 partners and 500 employees. Should she use cash or accrual accounting before and after merging with the accounting firm and provide the explanation? 3. James received a lump sum payment from the Daily Newspaper in full settlement of an action for defamation. Is this amount assessable income and provide the explanation? 4. AAB Ltd is a marine and boat manufacturer and has incurred costs of $200,000 on feasibility studies for a new marine engine. Will this expense deductible under s8-1ITAA97? If not, can it be deductible under specific section and the time frame for the deduction? See Answer
- Q9: 1. The following table is the data for monthly wages, demand and supply of expatriate domestic workers in Kuwait. a. Draw a demand and supply curve (in the same graph) and find the equilibrium wage and quantity. (10 points) b. Considering reduce demand for domestic workers, the workers are willing to work 20KD less than what they were willing to work before. Find the new equilibrium wage and equilibrium quantity. (10 points) c. Refer to table 1, using the midpoint method, calculate the price elasticity of supplyfrom points A to B and H to I. (10 points) d. Discuss the elasticity values between those two points (elastic, inelastic, or unit elastic). (5 points) e. Why does the elasticity of supply values tend to change as we move down the supply curve? (5 points)See Answer
- Q10: 2. The equation for a demand curve is Q = 34 – 4P. Using the midpoint method, estimate the price elasticity of supply as the price decrease from 6 to 4? (10 points)See Answer
- Q11: 4. As a concern for declining revenue from oil and increasing budget deficit, the Kuwait government decided to introduce 20KD per person monthly fee for medical insurance(from the workers). Refer to table 1 (before the minimum wage) and draw a new demand/supply curve. (10 points) a. How much wage the employers will pay after the fee? (5 points) b. How much is the employers' contribution of the fee? (5 points) c. How much is the workers' contribution of the fee? (5 points) d. How much revenue the government will collect from the proposed fee? (5 points)See Answer
- Q12: 3. Considering a complain form International Labor Organization (ILO), the Kuwait government decided to introduce a minimum wage for expatriate domestic workers.Considering the minimum wage answer the following questions; a. Comment on the proposed 140KD minimum wage (price ceiling/floor;binding/not binding). Explain your answers. (5 points) b. How does the 140KD minimum wage would affect quantity demanded and quantity supplied? (5 points)See Answer
- Q13: 2. Is the value of a house built in 2000 and resold in 2020 included in the GDP of 2020?Why or why not? Would the services of the real estate agent who helped sell (or buy) the house in 2020 be counted in GDP for 2020? Why or why not?See Answer
- Q14: Q4-66 A debt of $5000 can be repaid, with interest at 8%, by the following payments. How much is X? See Answer
- Q15: 14-Xerox Lakes project is an example of: a)a new product platform b)an existing product platform c) a radically different production technology d)a derivatives of existing product platformSee Answer
- Q16: 20-They can use better materials, and avoid using solid setting". If this sentence is found in customer needs list which interpretation guideline does it violate? A) express the need in term of what the product has to do, not in term of how might do it b)express the need as an attribute of the product c)Avoid negative phrases, positive phrase is easier to understand d)Avoid words that assign importance: for example. must or shouldSee Answer
- Q17: 10.Each year for 5 years, a deposit is made for $500.00 into a fund paying 6percent interest per year. How much will be accumulated in the fund at t =5, and at t = 10?See Answer
- Q18: 3. ABC Industries wants to invest an amount of money today in order to withdraw $5,000 per year for 12 years in order to pay for annual maintenance on a piece of equipment. Current interest rates are 4%. How much must ABC industries set aside?See Answer
- Q19: ACTIVITY 2. Answer the following questions in 200-250 words: Why do Businesses invest in Social Media to promote their products? What steps / actions would you take to use Social Media to reach out to your audiences / potential customers? How can you ensure that you are getting their attention and interest and that you are successful in persuading them to use your products or services?See Answer
- Q20: ACTIVITY 3. Using your own words, write a 200-250-word summary of the training courseEnsuring Social Media and Application Quality.See Answer
Popular Subjects for Engineering Economics
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