Kindly solve the following questions

The graph shows the relevant curves in the paper Social MC production market. In the absence of government intervention, how many reams of paper are purchased or sold? Specify your answer to two Supply or private MC decimal places. paper: reams Demand What is the efficient amount of paper this market should produce? Specify your answer to two decimal places. 0 5.14 10.64 13.84 19.34 Quantity (reams) paper: reams Compared to the socially optimal level of production, is too much or too little paper produced in this market? O too little O too muchJohn and Michael are the only consumers in a town that is planning on putting on a fireworks display. The graph illustrates John's and Michael's demand curves for a fireworks display. Based on the information given in the graph, manipulate the movable demand curve to reflect the overall demand for the fireworks display. What kind of good is a fireworks display? 12 O quasi-public good 11 common resource 10 public good private good John's demand Cost (5) Demand Michael's demand 1:0 20 Quantity