-(Exhibit: Correcting for Market Failure: External Cost) Assume that there is an external cost involved, as illustrated in the exhibit. If the government intervenes to correct for the external cost, the new _______ will now reflect _______ and _______ cost.
Definitions:
Low Level of
is a phrase indicating a minimal or reduced quantity, intensity, or degree of a specific quality or attribute.
Self-efficacy
An individual's belief in their own capacity to execute behaviors necessary to produce specific performance attainments.
Self-worth
An individual's subjective valuation of their own value or worth as a person.
Self-actualization
The realization or fulfillment of one's talents and potentials, considered as the ultimate objective of personal development.
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