A shift from S1 to S2 reflects the change that happens when a negative externality is taken into account. A shift from D1 to D2 reflects the change that happens when a positive externality is taken into account.
-Refer to the above figures. A negative externality existed but has been corrected. Price and quantity will be
Definitions:
Equity Model
A theoretical framework that suggests fairness and equality in relationships or transactions leads to satisfaction and productivity.
Motivator-hygiene
A theory in organizational behavior that suggests employee satisfaction and motivation are influenced by two factors: motivators that lead to job satisfaction and hygiene factors that prevent dissatisfaction.
Two-week Paid Vacation
A standard employee benefit in many organizations, offering a prolonged period of paid time off, typically two weeks, for rest and recreation.
Equity Theory
A theory in social psychology that explains how individuals perceive the fairness of their input-output ratios in comparison to others, affecting their motivation and satisfaction.
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