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. An external benefit exists. This will lead to a(n)
Definitions:
Standard Deviation
A statistical measure of the dispersion or variation in a set of values, indicating how spread out the values are from the mean.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean.
Payoff
The return or reward received from an investment or action.
Outcome Yields
The results obtained from a particular action or set of circumstances, typically measured in terms of benefits, profits, or yields.
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