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6. (12pts) Externalities: Identify the type of externality in the graph below: MC MSC A B C G MB A) (2pts) Label the market price

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6. (12pts) Externalities: Identify the type of externality in the graph below: MC MSC A B C G MB A) (2pts) Label the market price and quantity. Label the socially optimal price and quantity. B) (4pts) At the free-market level of production, calculate the following:: a) Consumer Surplus: b) Producer Surplus: c) Externality Benefit: d) Social Welfare: C) (4pts) At the socially optimal level of output, calculate the following: e) Consumer Surplus: f) Producer Surplus: g) Externality Benefit: j) Social Welfare: D) (2pts) Determine the deadweight loss from the externality

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