Economics Question:
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What is social cost benefit analysis?
Answer:
It refers to the study of feasibility of a project in terms of its total economic cost and total economic benefits.
It means to compare total cost with total benefit if we add external cost with private cost, its called total social cost if we add external benefit with private benefit, called total social benefit.
It means to compare total cost with total benefit if we add external cost with private cost, its called total social cost if we add external benefit with private benefit, called total social benefit.
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