In a market of two consumers and two suppliers, the marginal benefit of the first consumer to own a product is: MB1=40-qc1, q is the quantity of the product. For the second consumer: MB2=40-2qc2. The marginal costs to produce the product are: MC1=qs1 for the first supplier and MC2=2qs2 for the second. The marginal benefits and marginal costs are all expressed in dollars

The production process emits a pollutant and the emission rate is 8 kg for every unit of product. Assuming that the only negative externality or environmental damage is the loss of a statistical life for every 1,000 tons of the pollutant. The value of one statistical life is $1 million. Then what is the monetary value of the environmental damage for one unit of the product? At equilibrium, what are the price and quantity of the product to achieve the social optimum?