The costs associated with legally required benefits are typically more than half of the total benefit costs. The above statement is False.
Total benefit costs. The net gain a customer receives from consuming a specific amount of a commodity is measured by consumer surplus. It can be conceptualized as the discrepancy between the consumer's willingness to pay and actual payment.
In general, Total cost-benefit analysis entails totaling all of the costs associated with a project or decision, subtracting that sum from the predicted benefits, and calculating the net result. (This value is sometimes shown as a ratio.)
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