Considering the externalities with the example about the Key stone XL pipeline.
1. Explain the situation involving the Keystone XL pipeline as a market decision with externalities attached, or the potential externalities attached. Use a supply and demand graph to illustrate your points.
2. If the pipeline is built, who are the "losers" i.e. those impacted negatively by the externality in the context of your externality example,? Who are the winners? Be careful because not all of the winners and losers are companies or corporations.
3. Is there a reasonable way for the "winners" of the pipeline to compensate the "losers".