When an activity has a private marginal benefit of D1, a private marginal cost of S1, and a positive externality, which curve best represents the social marginal benefit?
Definitions:
Extinct
A term describing a species, family, or larger group of organisms that no longer exists anywhere on Earth.
Conditioned Response
A response acquired through learning to a stimulus that was once neutral but has been frequently paired with a stimulus that elicits an automatic response.
Spontaneous Recovery
The reappearance of a previously extinguished conditioned response after a pause.
Stray Dog
A dog that lives on the streets and is not owned or cared for by a specific person.
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