Question: f+ Price Price Panel (a) Panel (b) Social cost Supply Supply PI P2 P3b Demand Q1 Demand Q2 03 1 Price Panel (c) Supply P46

$\f+ Price Price Panel (a) Panel (b) Social cost Supply Supply$

external benefit of a positive externality is represented by

\f+ Price Price Panel (a) Panel (b) Social cost Supply Supply PI P2 P3b Demand Q1 Demand Q2 03 1 Price Panel (c) Supply P46 - -- PS P46 Social value Demand Q4 Q5 The external benefit of a positive externality is represented by

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