22. What are better-defined property rights and what incentive do they provide to account for external costs?

23. As the extent of environmental protection expands, would you expect marginal costs of environmental

protection to rise or fall? Why or why not?

24. As the extent of environmental protection expands, would you expect the marginal benefits of

environmental protection to rise or fall? Why or why not?

25. What are the economic tradeoffs between low-income and high-income countries in international

conferences on global environmental damage?

26. What arguments do low-income countries make in international discussions of global environmental

clean-up?

27. In the tradeoff between economic output and environmental protection, what do the combinations on the

protection possibility curve represent?

28. What does a point inside the production possibility frontier represent?

Critical Thinking Questions
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