These "externalities" don't show up on the typical supply-and-demand diagram; but if they did, they'd shift the curves. The classic supply-and-demand diagram has two axes. The horizontal axis ...

At first sight, this might seem logical. After all, chapter one of any student economics textbook contains the classical supply-and-demand diagram, which determines the price of bread. Lots of ...

LONDON: It’s a diagram that Economics 101 students learn by heart. It puts together supply, demand and prices in a single chart. The graph is the stuff that makes markets tick, whether for ...