Consider the supply and demand graphs for electricity that is generated by burning coal, and activity that releases damaging pollution into the atmosphere. Coal Electricity Generation Price 20 S- Social 18 S- Private 16 14 12 D Quantity 20 40 60 80 100 1. Mark the equilibrium price and quantity on the graph what would occur if there was no environmental regulation. Answer: 2. According to the graph, what are the per unit_'external costs' associated with production? Answer: 3. Mark the 'Social Optimum' on the graph, or the price and quantity that would maximize welfare of society as whole. Answer: 4. At the Social Optimum does the power plant still pollute? Explain