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3. Use the accompanying table to answer the following questions. Private Social Quantity Cost Cost Benefit $2 $4 $12 $6 $10 $22 $12 $18 $30 $20 $28 $36 $30 $40 $40 a. What is the external cost per unit of output? b. What level of output will be produced? 12345 the extern 5. If the pri reversed too much would the subsidy? 6. What is r fundamer oceans? L 7. How mue internaliz explanati that the g c. What level of output should be produced to achieve economic efficiency? d. What is the value to society of correcting the externality? internalize moving Now the are