1. The demand function for hours of tutoring is (JD 2 2i] P and the supplyr function for hours of tutoring is Q5 2 P + 2. Because students who receive tutoring become more productive members of society. the market for tutoring generates a positive externalitv. The marginal social benefit of tutoring is described by the function M58 2 23 if). (a) Solve for the market equilibrium and the socially efficient equilibrium. (b) What is the producer and consumer surplus in the market equilibrium? What is the dead weight loss? {c} The government is considering subsidizing tutoring services? What size of subsidy would move the market to the slzlciallyr efficient equilibrium? {d} With the above subsidyr in placer what are the new producer and consumer surpluses? What is the cost to the government to provide the subsidy? What is the deadweight loss