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. Externalities exist in both panels. After correcting for the externalities the prices should be
Definitions:
Generalized Anxiety Disorder
A mental health condition characterized by persistent and excessive worry about various aspects of life, beyond that of normal stress.
Specific Phobia
An intense, irrational fear of a specific object, situation, or activity that leads to avoidance behavior.
Panic Disorder
A psychiatric disorder characterized by recurrent unexpected panic attacks—sudden periods of intense fear or discomfort that may include palpitations, sweating, and feelings of impending doom.
Obsessive-Compulsive Disorder
Obsessive-Compulsive Disorder (OCD) is a mental disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions).
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