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determine if benefits exceed costs, i.e. if project is worth doing or not
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What describes the purpose of using cost-benefit analysis?
to make decisions that maximize benefitsThe purpose of using cost-benefit analysis is to determine the options that provide the best approach for the practice and adoption in terms of cost savings, time and labor. The cost benefit analysis is also called a benefit cost analysis.To make decisions that maximize benefits
What is a purpose of cost benefit analysis?
The purposes of doing a cost-benefit analysis are to determine if it is a sound investment or decision and to provide a basis for comparing projects.
What is the purpose of doing a cost- benefit analysis?
The purposes of doing a cost-benefit analysis are to determine if it is a sound investment or decision and to provide a basis for comparing projects.
What is the purpose of determining benefit cost for a project?
To determine if a project is worth doing. THIS IS THE RIGHT ANSWER!
What is the purpose of determining benefit-cost for a project?
To determine if a project is worth doing. THIS IS THE RIGHT ANSWER!
What is the purpose of using a cost benefit analysis?
You would use a cost-benefit analysis to see what the best approach would be to a problem. It helps you know what alternative is best in terms of effort, time, and cost.
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
What is the purpose of a service plan?
A vision service plan is a medical benefit offering eye benefits to their clients. It will cover the cost of eye exams and the cost of prescription glasses.
Definition of scarcity and opportunity cost by Bernardo Villegas?
Opportunity cost refers to the economic benefit forgone by using a resource for one purpose rather than another.
Which describes the purpose of doing a cost benefit analysis?
The purposes of doing a cost-benefit analysis are to determine if it is a sound investment or decision and to provide a basis for comparing projects.
What is the purpose of a vision service plan?
A vision service plan is a medical benefit offering eye benefits to their clients. It will cover the cost of eye exams and the cost of prescription glasses.
What is opportunity cost and opportunity benefit?
Opportunity cost is the cost that an opportunity presents. The opportunity benefit is the benefit of the opportunity that is being presented.
