Question

What is an externality you have experienced and how does it impact your view of supply...

What is an externality you have experienced and how does it impact your view of supply and demand in a free market?

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Answer #1

One externality that I have experience this pollution where due to pollution, my health deteriorated and I am paying the external cause due to the factories nearby. However this is corrected as many of the people nearby reported a complaint against the pollution as a result of his officials came along and made them to reduce the pollution to particular extent so that the supply decreased as a result of which the supply curve shift to the left so that the marginal social benefit prevailed with that of marginal cost.

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