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Understanding Replacement Analysis in Engineering Economy: Module 3 Overview

This module focuses on replacement analysis, a crucial aspect of engineering economy. It addresses the pivotal question of when to replace existing equipment with new assets. Understanding the distinction between physical life (PL) and economic life (EL) is essential. Physical life refers to the duration an asset can physically operate, while economic life represents the timeframe after which it becomes financially beneficial to replace the asset. This insight is crucial for effective economic decision-making in engineering contexts.

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Understanding Replacement Analysis in Engineering Economy: Module 3 Overview

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