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:
Partially Disclosed Principal
A partially disclosed principal is a party in an agency relationship whose existence is known to a third party, but their identity is not revealed.
Undisclosed Principal
A person who directs another to deal with a third party without revealing their identity.
Durable Power
A legal document that grants someone the authority to act on another's behalf in legal and financial matters, which continues to be effective even if the grantor becomes incapacitated.
Power of Attorney
A legal document authorizing one person to act on behalf of another in legal, financial, or personal affairs.
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