A major contributing factor to the death toll from COVID-19 in Canada were the deaths in Long-Term Care homes in Ontario.

The Long-Term Care homes in Ontario are generally under the management of private corporations, who own or operator these homes on the behalf of the province of Ontario.

The private ownership or operation of these homes means that there can be a difference between the private and social costs of operating these homes.

question: Suppose there was a difference between the private and social cost of operating a long-term care home, what would be the implications for the price and quantity in the market, i.e., how does the competitive equilibrium compare to the socially optimal equilibrium.