15 Nov 2021
Problem 23
Page 295
Section: REVIEW QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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15 Nov 2021
Introduction
Environmental protection: It is the practice of protecting the natural environment and conserving it
Marginal cost: additional cost incurred with the cost of production of additional unit
Marginal benefit: additional benefit incurred with the selling of one more unit of product
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