The marginal benefits that accrue only to individual decision makers are

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Private marginal benefits refer to the benefits that accrue only to individual decision makers. These benefits are not shared by society as a whole and hence do not reflect the full impact of the decision on society. Private marginal costs, on the other hand, are the costs incurred by individual decision makers in making the decision and may not reflect the full social cost of the decision. Social marginal costs and benefits reflect the full impact of the decision on society as a whole.

The Marginal Benefits That Accrue Only to Individual Decision Makers