Maps M Gmail Looking for those o... coursehero.com ouTube SP Make Images, Vide ner CD5F40071CE10F2... f May be an image o... "> Reading list stions Correct Market Failure - End of Chapter Problem 99.2% Correct Suppose that the inverse demand for marching band music is given by P = $1,000 - Q. Because marching bands across the world produce music of sufficient quality at increasing marginal cost, the industry marginal cost is given by MC = 30. 0% Unfortunately, marching band music is not produced in a vacuum: People near marching bands become increasingly aggravated, the more music they hear. At the industry level, the external marginal cost is given by EMC = 30. a. In the accompanying diagram, graph the demand, marginal cost, and external marginal cost functions. 0% 0% b. If marching bands do not consider the external 1,200 marginal costs they impose on others, MC 0% 1, 100 marching bands will be hired. EMC 1,000 900 0% 800 700 600 0% 500 400 0% 300 200 100 0% 0 100 2 300 400 500 600 700 800 900 1,000 Quantity of marching bands L 390 F S ENG 09:57 to search gi W IN 10/12/2021Question 3 of 17 200 100 0 200 300 400 500 600 700 800 900 1,000 Quantity of marching bands i. Calculate the consumer surplus (CS), producer surplus (PS), and total surplus (TS) to market participants. CS = $ PS = $ TS = $ c. The social marginal cost is d. If the bands were forced to consider the external marginal costs, the quantity of marching band music would be 020 , and the price of marching band 39OF ENG 09:57 gli IN 10/12/2021 PrtScn Home End PgUp PgDn FV2C assessments.macmillanlearning.com/sac/4898893#/4898893/2/-1 Update : YouTube . Maps M Gmail Looking for those o... S Make Images, Vide... S image0.gif (112x112) Dank Memer CD5F4007 1 CE10F2... May be an image o... "> Reading list 7 Questions Assignment Score: 48% Resources . Ly Give Up? ? Hint Check Answer Question 3 of 17 > Correct 99.2% c. The social marginal cost is d. If the bands were forced to consider the external Correct marginal costs, the quantity of marching band music would be - , and the price of marching band 0% music would be 0 -10 0% Oo 0% e. As you did in part b, calculate consumer surplus and producer surplus. 0% Round to two places after the decimal if necessary. CS = $ PS = 0% 0% f. When external marginal costs are considered, the total surplus received by market participants 0% here to search 39OF ENG 09:57 IN 10/12/2021 PrtSon Home End PgUp PgDn