4. (10 pts.)A competitive air conditioner (AC) industry produces one unit of greenhouse gas (GHG) for each unit of AC. The industry disposes the GHG by releasing it into the atmosphere. The inverse demand for the AC is P'1 = 50 2Q, where Q is the quantity consumed when the price consumers pay is Pd. The inverse supply curve (and marginal private cost, MPC, curve) for AC is MPC = 2 + Q. The marginal external cost curve is MEC = 0.50, where MEC is the marginal external cost when the industry reieases Q unites of GHG. a) What are the equilibrium deadweight loss, price and quantity for the AC market without any government policies? (3 pts.) b) What is the efficient level of AC output? (2 pts.) c) How much specific tax should the government impose to achieve the efficient output level? Is the deadweight loss eliminated? (2 pts.) d) Fully describe two other policies (with exact numbers) that can achieve the efficient level of output. Is the deadweight loss eliminated? If so, explain how. If not, explain what other assumptions/policies the government requires to eliminate the deadweight loss. (3 pts.)