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 costs exist?
Definitions:
Dependent Variable
In an experimental setting, the variable being tested and measured, which is expected to change under the influence of the independent variable.
Independent Variable
In an experimental setting, this is the variable that is manipulated or changed by the researcher to observe its effect on the dependent variable.
Sample
Group of subjects selected from a larger population of subjects, usually selected randomly.
Population
In statistics and research, the entire group of individuals or instances about whom the information is desired; in biology, all the organisms of the same group or species living in a particular geographic area.
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