(4) The graph below shows a market for house-painting services. Use it to answer the questions that follow. Price 0! house painting $2 .200 $1 .800 $1 .600 110 140 Quantity of houses painted (in thousands) (a) Painting the exterior of your house yields external benefits for your neighbors. Label the private benefit and social benefit curves and show the amount of the external benefit. (b) What is the equilibrium price and quantity? (c) What is the socially optimal quantity in this market? (d) Does the market produce too much or too little of this good relative to the socially optimal outcome? How much