In order for a higher-cost alternative to be attractive, the incremental benefit-cost ratio must be E. Less than the MARR F. Greater than or equal to the MARR G. Less than 1 H. Greater than or equal to 1
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- Determine the process to compare alternatives on an equal basis and select the alternative that is wisest from an economic standpoint?A building contractor can source door frames from either a nearby shop or a far-off forest area. The cost details are summarized in the table below. The total requirement of wood for the construction work is 75 tons. Find the best alternative for buying the wooden frames. Also find the economic advantage of the best alternative. Items Nearby Shop Far-off Forest Area Negligible Distance to site 900 km $100 Transportation cost per ton per km Material cost per ton Negligible $ 2,000 $ 1,250An industrial engineering consulting firm usually observes a 90% learning curve rate in the installation of enterprise level software with its clients. If the first installation required 75 hours, estimate the time required for (a) the fifth, (b) the tenth, and (c) the twentieth installations. (d) Research the AMCF Code of Ethics. How are these similar to and different from engineering society ethics statements from your discipline?
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