When you want to use the conventional benefit cost analysis to compare two options X and Y. What will you do to do so when: options X and Y are mutually exclusive options? options X and Y are independent options?

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When you want to use the conventional benefit cost analysis to compare two options X and Y

Economics Dec 15, 2020

When you want to use the conventional benefit cost analysis to compare two options X and Y. What will you do to do so when:

options X and Y are mutually exclusive options?
options X and Y are independent options?

Expert Solution

I would want to use conventional benefit cost analysis to compare options X ad Y when they are mutually exclusive options. If they are dependent on each other, the cost/benefits of one would be dependent on the cost/benefits of the other option. Therefore, it would not provide an independent evaluation framework to evaluate the options.

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