In the market for hybrid cars, the market demand curve gives an equilibrium price of $21,000 and an equilibrium quantity of 12 million hybrid cars. However, because hybrid cars exhibit a positive externality, the socially optimal quantity is estimated to be 15 million hybrid cars with a marginal social value of 26,000. To reach a quantity of 15 million hybrid cars, the price paid by consumers would have to fall to 20,000.Calculate the subsidy needed to reach the socially optimal quantity of 15 million hybrid cars. Round to the nearest whole number. Do not enter decimals.

Question 2 of 3 1 Points Price per hybrid car S (MPC) P1 21,000 P2 Ds (MSB) market (MPB) 12 Q social Q of hybrid cars (in millions) In the market for hybrid cars, the market demand curve gives an equilibrium price of $21,000 and an equilibrium quantity of 12 million hybrid cars. However, because hybrid cars exhibit a positive externality, the socially optimal quantity is estimated to be 15 million hybrid cars with a marginal social value of 26,000. To reach a quantity of 15 million hybrid cars, the price paid by consumers would have to fall to 20,000. Calculate the subsidy needed to reach the socially optimal quantity of 15 million hybrid cars. Round to the nearest whole number. Do not enter decimals