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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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Engineering Economics Assignment Help

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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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At TutorBin, we emphatically say that hiring engineering economics tutors online is a good idea! Our platform offers a cadre of highly qualified and experienced engineering economics tutors who bring a wealth of knowledge and expertise to the virtual classroom. The benefits extend beyond just academic assistance; our tutors act as mentors, guiding students through complex concepts, providing personalized learning experiences, and delivering valuable insights that go beyond the textbooks. With the flexibility of online sessions, students can access help at their convenience, fostering a dynamic and effective learning environment.

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Challenges Where Students Need Engineering Economics Assignment Help

Facing 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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FAQs on Engineering Economics Help Searched By Students

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Recently Asked Engineering Economics Questions

Expert help when you need it

Q1: What are the different dimensions of the terms engineering and management? Discuss.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: 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
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: . 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
Q6: 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
Q7: 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
Q8: 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
Q9: 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
Q10: 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
Q11: Q4-66 A debt of $5000 can be repaid, with interest at 8%, by the following payments. How much is X? See Answer
Q12: 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
Q13: 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
Q14: 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
Q15: ACTIVITY 3. Using your own words, write a 200-250-word summary of the training courseEnsuring Social Media and Application Quality.See Answer
Q16: 6. The cash flows have a present value of 0. Compute the value of n, assuming a 12% interest rate. See Answer
Q17: We are going back to the fall of 1998, back in the 'midst' of the new economy. The U.S. economy weathered the E. Asian quite well and the U.S. economy, by almost all accounts, was performing brilliantly. In August of 1998, Russia defaulted on all the debt held by foreign investors. This"shock" rattled financial markets so much that the Fed went into action and lowered short term interest rates 3 times in a seven week period. In what follows, we are going to model this 7 weeks period using our new acquired reserve demand/reserve supply diagram. Point A: August 1998: iff = 5.5% Point B: September 1998: Lowered interest rates to if =5.25% Point C: October 1998: Lowered interest rates to ig = 5.00%%3D Point D: November 1998: Lowered interest rates to ig= 4.75% Note importantly, we are modeling the behavior of the federal funds rate during this period. Theforecasted reserve demand at this time is given below. For simplicity, this reserve demandfunction is stable (constant) throughout this exercise: Ra = 950 - 110İff What is the value of the Reserve Supply in August 1998? Hint: use the R equation and the value of iffto get the value for Rd. Then remember that Rd=R, in equilibrium! 345 427.5 400 D 350See Answer
Q18: 9. Joe's starting salary as a mechanical engineer is around $80,000. Joe is planning to place a total of 10% of his salary each year in the mutual fund. Joe expects a 5% salary increase each year for the next 30 years of employment. If the mutual fund will average 7% annual return over the course of his career, what can Joe expect at retirement? 8 Click the icon to view the interest factors for discrete compounding when i= 7% per year. The amount Joe can expect at retirement is $(Round to the nearest dollar.) See Answer
Q19: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%interest and she makes 38 deposits before she retires,how much money can she withdraw in 20 equal payments beginning one year after her last deposit?Contributed by Paul R. McCright, University of South FloridaSee Answer
Q20: What is the difference between the static labour supply framework and the dynamic one? Dynamic pertains to the present time frame, while static pertain to the entre life-cycle. The static framework refers only to the individual's labour supply choices, while for the dynamic framework the spouse'sdecisions are taken into account The static framework refers to the short run, while the dynamic one refers to the long-run In the dynamic framework events in one time period can have repercussions for labour supply choices in another timeperiod. None of the aboveSee Answer

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