Figure 15.5 
Figure 15.5 shows a market with an externality.The current market equilibrium output of Q1 is not the economically efficient output.The economically efficient output is Q2.
-Refer to Figure 15.5.If, because of an externality, the economically efficient output is Q2 and not the current equilibrium output of Q1, what does D2 represent?
Definitions:
Direct Observation
A research method where behaviors or events are recorded as they naturally occur, without interference or manipulation by the observer.
Internal Locus of Control
The belief that one's actions and behaviors are responsible for the outcomes in their life, rather than external forces.
External Locus
A psychological concept where individuals believe that their lives are controlled by external forces rather than their own actions.
Reciprocal Determinism
A concept in psychology introduced by Albert Bandura, suggesting that a person's behavior is influenced by personal factors and their environment, with each factor influencing and being influenced by the other simultaneously.
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