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How can one choose independent projects given a budget constraint? Do you go by Net social benefit (NSB) and choose the ones with higher NSB?

How can one choose independent projects given a budget constraint?

Do you go by Net social benefit (NSB) and choose the ones with higher NSB? then stop when the cumulative cost exceeds the budget constraint?

Do you rank projects by costs and choose the ones with lower costs. Stopping when the cumulative cost exceeds the budget constraint?

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