In the market for super sparkly shirts, PMB = 70 - SO and PMC = 10 + 5Q, where private marginal benets (PMS) and private marginal costs (PMC) are measured in dollars and quantity (Q) is measured in thousands of shirts. Assuming the market is perfectly competitive, the private market equilibrium quantity is thousand shirts (enter only a number in the blank, and round to the nearest integer if necessary). Question 4 3 pts Consider again the market for super sparkly shirts. Suppose that wearing a super sparkly shirt has a negative externality because the super sparkles can hurt bystanders' eyes. The damage caused to others amounts to $20 per shirt (i.er, the marginal damage is $20). Assuming for now that there are no other market failures in the super sparkly shirt market, then taking into account the negative consumption externality. the socially optimal quantity of super sparkly shirts is thousand shirts (enter only a number in the blank, and round to the nearest integer if necessary). Question 5 3 pts Consider again the market for super sparkly shirts. In light of your answers to the previous two questions, the deadweight loss in the private super sparkly shirt market due to the negative consumption externality is 0 $0 0 $5000 0 $10,000 0 $15,000 0 $20,000 0 $25,000 0 $30,000 0 $35,000 0 $40,000 Question 6 2 pts Consider again the market for super sparkly shirts. To address the negative consumption externality and ensure that the private market for super sparkly shirts delivers the socially efcient outcome. the government would need to impose an excise (or Pigouvian) tax of 0 $0 per shirt (i.e., no tax is required) 0 $2 per shirt 0 $5 per shirt 0 $10 per shirt 0 $15 per shirt 0 $20 per shirt 0 $30 per shirt 0 $40 per shirt 0 $60 per shirt 0 None of the above. Question 7 3 pts Consider again the market for super sparkly shirts. Suppose now that, in addition to the negative consumption externality, there is also a $10 per shirt positive production externality associated with super sparkly shirts (the manufacture of super sparkly shirts releases glitter into the air, which makes all the local houses and greenery shimmer beautifully). Given both the negative consumption externality AND the positive production externality, the socially optimal quantity of super sparkly shirts is thousand (enter only a number in the blank, and round to the nearest integer if necessarylr