Problem
In Mark A. Cohen, "The Costs and Benefits of Oil Spill Prevention and Enforcement," Journal of Environmental Economics and Management Vol. 13 (June 1986), an attempt was made to quantify the marginal benefits and marginal costs of U.S. Coast Guard enforcement activity in the area of oil spill prevention. His analysis suggests (p. 185) that the marginal per-gallon benefit from the current level of enforcement activity is $7.50, while the marginal per-gallon cost is $5.50. Assuming these numbers are correct, would you recommend that the Coast Guard increase, decrease, or hold at the current level their enforcement activity? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.