4. Suppose the equation for the demand curve in a market is P = 120 - (1/5) Q, where QP is the quantity demanded and P is the price. Also, suppose the equation for the supply curve in the same market is P = (1/10) QS, where Q5 is the quantity supplied. (15 points) tot ogreve bas,212. (1) Suppose there is an external cost of $12 associated with the production of each unit of the good. What is the equation of the social-cost curve?misch stelus 21BIE 012 (2) Suppose there is an external cost of $12 associated with the production of each unit of the good. What is the social cost of producing 30 units of the good? (3) Suppose there is an external cost of $12 associated with the production of each unit of the good. What are the socially optimal quantity and price?