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Suppose that you are asked to estimate the strengths and weaknesses of two alternatives for detecting...

Suppose that you are asked to estimate the strengths and weaknesses of two alternatives for detecting cases of cancer, wherein this estimation involves comparing the total expected cost of each alternative against its total expected revenues. What evaluation method would you use and why? economic Evaluation lecture

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The evaluation method used will be cost benefit analysis. Because in this method it helps to estimate strength and weakness of alternatives to detect case of cancer. It involves comparison of total expected cost of each alternative against total expected revenue. In this method all costs and revenue from all dimensions are added and compared against each alternative to detect cancer. As the early detection in cases of cancer by this analysis can cost less money, alleviate less burden of disease and provide benefits of less total cost against total revenue. Cost benefit analysis helps to predict about how much does revenue outweighs cost to other alternatives so that one can rank these alternatives in terms of cost - benefit ratio.

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