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Question 7 of 10
Which of the following best describes the purpose of using cost-benefit
analysis?
A. To produce a spreadsheet predicting costs.
B. To know the highest and lowest price to pay for something.
OC. To decide how much money to invest to earn a certain amou
OD. To make decisions that maximize benefits.



Answer :

GinnyAnswer

Final answer:

Cost-benefit analysis evaluates benefits versus costs to make informed decisions and maximize benefits efficiently.


Explanation:

Cost-benefit analysis is a method used to evaluate the measurable benefits of a decision against its costs. It helps in determining if the benefits outweigh the costs to make informed choices.

By comparing what is sacrificed (costs) and what is gained (benefits), individuals or organizations can maximize benefits and make decisions that are economically sound.

For example, governments use cost-benefit analysis to decide on providing public goods, ensuring that resources are efficiently allocated for the greatest societal benefit.


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