In order to maximize the net benefit from an action, such as a government economic policy or a business investment decision, a cost-benefit analysis is often undertaken.

Question

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A cost-benefit analysis is a systematic process used to estimate the strengths and weaknesses of alternatives, such as government policies or business investments, to determine the option that provides the best approach to achieve benefits while minimizing costs, thereby maximizing net benefit.

In Order to Maximize the Net Benefit from an Action