1) Should decisions about environmental policy be made on the basis of cost–benefit analysis? Justify your answer. 2) Su

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1) Should decisions about environmental policy be made onthe basis of cost–benefit analysis? Justify your answer.
2) Suppose industry abatement costs rise from $850 millionin 2011 to $1,000 million in 2012 in nominal terms and that the CPIis 100 in 2018 and 106 in 2019.a) Evaluate the change in costs over the period in real terms,first in 2018 dollars and then in 2019 dollars.b) Are your answers the same? Explain why or why not.