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Question 11 Price ($) Social Cost 34 32 30 S 28 26 24 22 20 NAMOON D = Social Benefit 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Quantity (in thousands) The graph above displays a market with an externality. Which of the following statements is true? I. The efficient quantity is 6 units. Il. This shows a negative production externality. Ill. The size of the externality is $4 per unit. O I and Ill only. O ll only. O I only. O I, II, and