Comparing a set of feasible alternatives and picking the best one is an optimization process called cost-benefit analysis.
Cost-benefit analysis can be defined as the process of comparing two different cost and then choosing the best cost that will be of benefit after analyzing and evaluating the two cost.
Cost-benefit analysis is important for companies or organization during decision making process.
Therefore Comparing a set of feasible alternatives and picking the best one is an optimization process called cost-benefit analysis.
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