This can be shown by the graph that shows negative externalities in consumption. ... It is fair to say that congestion on the country's roads is not new, even as long as the late 1950's many roads were subject to regular congestion problems. Car accelerated in the late 1950's and early 60's as income and living standards grew. ... The 1960's and 70's were the heydays of extensive motorway building and soon the motorist was able to travel very long distances without going through notorious "bottleneck" town and cities. ...

• Word Count: 1857
• Approx Pages: 7

Note that S is the original supply curve, and that it is moved to the right to create the new supply curve S1. ... We imagine that a company is selling Prince cigarettes at the red spot on the S supply curve, but then taxes are imposed. We now move from S to S1, and the price goes from 20 to 25 Kroner - rather expensive I'd say! ...

• Word Count: 2097
• Approx Pages: 8
• Has Bibliography