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Meaning / Definition of
Restoration Costs
Categories: Economics,
The cost for restoring environmental quality. These costs may be actual or hypothetical. hypothetical restoration costs are only used in cost-based estimates if they are the least-cost option. The hypothetical costs of restoring the environment to defined standards are important outside the national accounting framework. The hypothetical costs include the mitigation / abatement of accumulated damage required to return to this standard.
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