Order the steps to analyze and graphically represent deadweight loss in a market affected by negative externalities.

To analyze and graph deadweight loss in a market with negative externalities, start by identifying the market in question and the negative externality involved, such as pollution from a factory. Next, draw the supply and demand curves on a graph, marking the equilibrium point where they intersect, which shows the market price and quantity without any externalities. Then, indicate the social cost curve, which reflects the true cost to society, and find the new equilibrium point that accounts for this cost. The deadweight loss is represented by the area between the original equilibrium quantity and the new quantity, illustrating the loss of economic efficiency due to the externality. For example, if a factory produces too much because it doesn’t pay for the pollution it creates, the area between the two curves shows the potential benefits lost to society.