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Strengths and weaknesses of cost-benefit analysis

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Reference no: EM13977577

Please respond to the following:

• Compare the primary strengths and weaknesses of cost-benefit analysis (CBA), cost-effectiveness analysis (CEA), and cost-utility analysis (CUA). Give your opinion on which method you believe to be the most effective in economic evaluation.

• Using the umbrella decision-making example, suppose the probability of rain is 0.6, the ruined clothes cost is $30, and the lost umbrella costs are $2. Come to a decision based upon these assumptions, and determine the break-even probability of rain.

Reference no: EM13977577

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