How does optimization using total value differ from optimization using marginal analysis? Assume that the city council has to choose one of the following three alternatives-setting up a school,setting up a hospital,and setting up a playground.The estimates of the expected cost and benefit of all three projects are shown in the following table.How does the city council arrive at the optimal choice if both the techniques of optimization are implemented? Do the results vary?
Definitions:
Revenue Recognition
The accounting principle that dictates the specific conditions under which revenue is recognized and recorded.
Software Delivery
The process by which software products are provided to end-users, which can include physical distribution or digital download and installation.
Deposit Method
An accounting practice where revenue from a sale is not recognized until certain conditions are met, typically until all obligations regarding the sale are completed.
Deposit from Purchaser
An amount of money paid by a buyer to a seller to indicate the intention to complete the purchase transaction and secure the item or property being sold.
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