Final answer:
A Cost-Benefit Analysis (CBA) in environmental management determines if the benefits of a project outweigh its costs, using marginal analysis to compare the incremental costs and benefits.
Therefore, option C is correct.
Step-by-step explanation:
In environmental management, a Cost-Benefit Analysis (CBA) helps determine whether the benefits of a project outweigh its costs. This decision-making tool involves comparing the sacrifices and gains associated with a particular project. The CBA includes a detailed listing of all the costs, such as money, effort, and other resources that will be given up, and contrasts these with the benefits, which could be in terms of money, time, experience, and other improvements.
To evaluate the benefits and costs of environmental protection, CBA plays a crucial role. When dealing with ecotourism, for example, the CBA helps to explain the effects of such projects by comparing the revenue generated and the ecotourism's potential to conserve nature, with the environmental impact and costs for local communities. In terms of pollution, marginal analysis within CBA examines the marginal costs and marginal benefits of reducing pollution and is used to determine the point at which the cost of additional clean-up efforts outweigh the environmental benefit.
Understanding the concept of marginal analysis and its application in cost-benefit analysis is essential in making informed environmental management decisions that balance economic progress with ecological care. This reflects the careful consideration required to decide whether society could allocate resources more efficiently elsewhere in the economy.