might need this quick

2. (15 pts) Economic analysis of trafc and congestion can be analyzed in the following graph. but! (a) (3 pts) Explain, in words, why the private marginal trip cost is upward-sloping, and the slope increases with trafc volume? (b) (3 pts) Explain, in words, what does the gap between the social marginal trip cost and the private marginal trip cost mean, and why does it increase with traffic volume? (c) (3 pts) Show in graph the market equilibrium trafc volume (mark it as VB) and the socially optimal traffic volume (mark it as V0). [You need to rst replicate the above graph in your answer sheet, then draw V5 and V0 on it.] (C!) (3 pts) Show in graph the deadweight loss in the market equilibrium (mark it as DWL). (e) (3 pts) Show in the graph the optimal congestion tax (or Pigou tax) that corrects the market failure (mark it as t)