Directions: Complete the worksheet and upload it to Moodle. 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 57 Social 18 Sr Private 16 14 12 D E 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: ocial Optimum does the power plant still pollute? Explain