1. Keiser and Shapiro find that the average ratio of benefits to costs for grants made to municipal water treatment plants under the Clean Water Act was 0.25. They measure benefits by the increase in property values within 25 miles of the river serviced by the plant Do you think that this is an adequate measure of benefits? What benefits of improved water quality does this not capture? Discuss why water quality benefits are more difficult to measure than the health benefits of improvements in air quality