1 - Negative Externalities (Two Firms): In Ohio there are two manufacturers of sulfuric acid: Chemtrade and Marsulex. The marginal cost of Chemtrade is given by MCC = 2QC and the marginal cost curve of Marsulex is represented by M CM = QM , where QC and QM are the daily quantities of sulfuric acid in tons produced by Chemtrade and Marsulex, respectively. The world market for sulfuric acid is perfectly competitive, and the world price for sulfuric acid is $250 per ton. a) Derive the profit-maximizing quantity of sulfuric acid produced by the two firms in one day and the total amount of sulfuric acid produced daily in Ohio. b) Graph your answer to a) by putting the marginal costs of the two firms in the same graph. Be sure to label the axes and all relevant numerical values. As a by-product of their production process, Chemtrade and Marsulex produce sulfur dioxide, which poses a danger to children and older people. The external marginal cost of sulfuric acid production is estimated to be constant at EMC = 50 for each firm. c) Without calculating or using any graph, explain why the quantities you found in a) are not