such as the satisfaction you might feel from knowing that the air is clear over the Grand Canyon, even if you

have never visited the Grand Canyon, but advanced techniques in economics allow one to generate estimates.

Although estimates of environmental benefits are not precise, they can still be revealing. For example, a study

by the Environmental Protection Agency looked at the costs and benefits of the Clean Air Act from 1970 to

1990. It found that total costs over that time period were roughly $500 billion—a huge amount. However, it also

found that a middle-range estimate of the health and other benefits from cleaner air was $22 trillion—about 44

times higher than the costs. A more recent EPA study estimated that the environmental benefits to Americans
{"moddate": "2022-12-07T14:23:05-06:00", "creator": "PDFMiner", "upload_timestamp": "2026-02-07T15:24:38.309401", "uploaded_via": "batch_uploader", "total_pages": 597, "batch_upload": true, "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "title": "Principles of Microeconomics 3e", "file_type": ".pdf", "producer": "Prince 14.2 (www.princexml.com)", "file_name": "Microeconomics3e.pdf", "creationdate": "2022-12-07T14:15:44-06:00", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "file_size_mb": 26.99}