At a local college, 33.6% of students major in business, 14.3% of students major in economics, and 2.5% of students major in business and economics. What is the probability that a randomly selected student majors in business or economics?

Engineering Economics involves the systematic evaluation of the economic merits of proposed solutions to engineering problems.

i. List five (5) importance of engineering economics in any given engineering field

ii. From the point of view of an engineer which has the proficiency in Engineering Economics, discuss five (5) methods in facilitating the growth and implementation of Engineering Economics in the industry

3. Assume you have a very brilliant and inquisitive sibling who, wants to take a (macro)economics course anywhere in the world. Recommend economics to him/her by (a) defining economics, including macroeconomics; (a) telling him at two key ideas behind the economic way of thinking and the methodology of economics.4. Maria can read 40 pages of economics in an hour. She can also read 80 pages of sociology in an hour. She spends 5 hours per day studying. (Please measure the number of pages of economics read on the vertical axis). a) Draw Maria's PPF for reading economics and sociology b) What is Maria's opportunity cost of reading 80 pages of Economics? Which of the following graphs best describes the expected changes in the market for economics classes if a new law is passed that requires all undergraduate students at 4 year degree granting universities to take an economics class, while at the same time the government subsidizes the production of economics professors by supporting PhD students in economics? $ Price $ Price D1 D 0 Quantity Quantity Graph A Graph B $ Price $ Price D DJ D O Q,=0; Quantity Quantity Graph C Graph D