abatement cost

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The cost of securing a reduction in pollution. The abatement cost can be quoted as a cost per unit or the total cost of achieving a given target. The marginal abatement cost should be equated to the marginal benefit to determine the efficient reduction in pollution. The concept of abatement cost applies to pollution caused by the production activities of firms and the consumption activities of consumers. See also externality.

Subjects: Economics.

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