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Individuals Make Decisions at the Margins

Marginal Costs and Marginal Benefits of Environmental Protection

Marginal Costs and Marginal Benefits of Environmental Protection

Reducing pollution is costly—resources must be sacrificed. The marginal costs of reducing pollution are generally increasing, because the least expensive and easiest reductions can be made first, leaving the more expensive methods for later. The marginal benefits of reducing pollution are generally declining, because the steps that provide the greatest benefit can be taken first, and steps that provide less benefit can wait until later.

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    "Marginal Costs and Marginal Benefits of Environmental Protection."
    http://philschatz.com/economics-book/contents/m48672.html Principles of Economics CC BY-SA 3.0.

Related Terms

  • marginal cost
  • marginal benefit
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