2 Cost Benefit Analysis

Use cost benefit analysis to evaluate a decision.

Which of the following is a true statement regarding cost-benefit analysis?

a.) When conducting a cost-benefit analysis, non-monetary costs and benefits should be given a monetary value when possible to make comparison easier.

b.) Add together the total costs to the total benefits to get the desired number for the cost-benefit analysis.

c.) Cost-benefit analysis is unique to economics and economists.

d.) When conducting a cost-benefit analysis, you should not be concerned if the problem is very complex and unclear because the cost-benefit analysis will fix this.