a. Give a definition of negative externality and explain how it arises in a market. b. Refer to the graph above. If the government does not interene in this market, what is the free market equilibrium ? Is it socially efficients c. What kind of government intervention is required in the case? Explain how it will change the market outcome. Price ol 99 Ad 6 5 3 d social cost Private cost 3 4 5 6 7 Quantity H 89 10