Question: Initial Post: The concept of cost-benefit analysis/differential analysis considers both quantitative and qualitative cost and benefit measures to facilitate comparisons between alternatives for sound

Initial Post: The concept of cost-benefit analysis/differential analysis considers both quantitative and

Initial Post: The concept of cost-benefit analysis/differential analysis considers both quantitative and qualitative cost and benefit measures to facilitate comparisons between alternatives for sound business decisions. Managers apply the cost- benefit concepts when following the four decision-making steps: (1) discover a problem or need; (2) identify alternate courses of action; (3) prepare a thorough analysis of each possible solution, identifying its total costs, savings, benefits, other financial effects and any qualitative factors; and (4) choose the best alternative. Provide an example of a business or personal cost-benefit/differential analysis. Be sure to include the four steps above in your analysis.

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