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. Which of the panels would be consistent with the situation in which external benefits exist?
Definitions:
Poggendorf Illusion
A visual illusion that involves the misperception of the position of one part of a transversal line that has been interrupted by the contour of an intervening structure.
Ponzo Illusion
A visual illusion where the context causes an object to appear larger or smaller than it actually is.
Moon Illusion
A perceptual phenomenon where the moon appears larger near the horizon than it does higher up in the sky.
Hallucinations
Experiences of sensing something while fully conscious and without any actual external input, yet these experiences seem very real.
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