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Question 1 Growing vegetables with pesticides generates an external cost. The following graph represents the market for these vegetables. Use the graph to answer the questions below. Price (P) of vegetables with pesticides (per pound) Social MC Private MC $3.75 $3.50 $3.20 D = MB Quantity (Q) of vegetables with pesticides (in million 17 20 pounds per year) Figure 1Question 1 Growing vegetables with pesticides generates an external cost. The following graph represents the market for these vegetables. Use the graph to answer the questions below. Price (P) of vegetables with pesticides (per pound) Social MC Private MC $3.75 $3.50 $3.20 D = MB Quantity (Q) of vegetables with pesticides (in million 17 20 pounds per year) Figure 1a) What is the market price of vegetables grown with pesticides? b) What is the market quantity of vegetables grown with pesticides? c) What is the socially optimal quantity of vegetables grown with pesticides? d) What is the socially optimal price of vegetables grown with pesticides? e) If the government imposes a tax to internalize the externality from the production of vegetables with pesticides, what should the amount of the tax be? What part of this tax (in dollars) would be paid by consumers? What part (in dollars) would be paid by producers? f) How large is the annual deadweight social loss (in dollars) from excessive production of vegetables with pesticides?d) What is the socially optimal price of vegetables grown with pesticides? e) If the government imposes a tax to internalize the externality from the production of vegetables with pesticides, what should the amount of the tax be? What part of this tax (in dollars) would be paid by consumers? What part (in dollars) would be paid by producers? f) How large is the annual deadweight social loss (in dollars) from excessive production of vegetables with pesticides?Question 2 Flu vaccines are an example of a good with external benefits. The following graph represents the market for flu vaccines in the US. Use the graph to answer the questions below.Question 2 Flu vaccines are an example of a good with external benefits. The following graph represents the market for flu vaccines in the US. Use the graph to answer the questions below