The marginal cost to society of reducing pollution increases as the level of pollution reduction increases because of the law of

Question

Quizplus · Accepted Answer

The law of diminishing returns states that as more units of a variable input are added to a fixed input, the marginal product of the variable input eventually decreases. In the case of pollution reduction, reducing pollution initially may have a higher marginal cost to society, but as more pollution is reduced, the costs of further reduction increases due to factors such as technology limitations and the difficulty of implementing more stringent regulations.

The Marginal Cost to Society of Reducing Pollution Increases as the Level