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| the cost-benefit principle definitions | |||
|---|---|---|---|
| # | Definition | Sets | |
| 1 | an individual (or a firm or a society) will be better off taking an action if, and only if, the extra benefits from taking the action are greater than the extra costs. | 1 set | |
| 2 | an individual should take an action if, and only if, the extra benefits from taking the action are at least as great as the extra costs. | 1 set | |
| 3 | an individual will be better off taking an action if, and only if, the extra benefits from taking the action are greater than the extra costs | 1 set | |