The student includes diagrams relevant to the chosen concept and topic, such as the negative consumption externality of cigarettes and the supply and demand curves for cigarettes after the tax on cigarettes was imposed. However, Figure 2 lacks accurate labelling with missing arrows showing the shifts in P and Q. Despite this, the student integrates the diagrams well with explanations, ensuring clarity and relevance for the reader. The explanations effectively illustrate the market failure and welfare loss due to the negative consumption externality, as well as the impact of the government's intervention in the tobacco market through the 25% tax on cigarettes.
