Please solve the questions below

The following table shows the private value, private cost, and social value for a market with a positive externality 2'7 6 34 24 10 31 Quantity Private Value Private Cost Social Value 1 2 3 4 5 6 What is the equilibrium quantity of output in this market? (2 marks) What is the socially-optimal level of output in this market? (2 marks) (5 marks) Person Status Ginny is a 13-year-old student at East Valley High School. She babysits her younger Not in adult population brother and does other chores, for which her parents give her an allowance of $30 per week. Rosa is an 18 year-old who just finished high school. She is taking it easy this Unemployed summer, relaxing by the pool with her friends and family, and volunteering part-time at the local nursing home. Sam is a 30 year-old who lost his job as a copy editor for a local newspaper. He has Unemployed spent the past few weeks out of work and interviewing for other editing jobs. He is thinking about going to university for postgraduate research if his job search doesn't succeed after a few more weeks. Nick is a 42-year-old accountant who has been out of work for almost a year. He Not in labour force became so discouraged that, a couple of months ago, he gave up on his job search. Felix is a 51-year-old miner who was laid off from his job six months ago. He is Employed frustrated with his inability to find a full-time position. Last week, he took a part-time job but could work only three hours. Deborah is a 28-year-old professional basketball player. She finished her last season Unemployed as a player three weeks ago and is currently interviewing for a coaching position. The labour force participation rate reported by the ABS is given by the following formula: Number in Labour Force Labour Force Participation Rate = Adult Population Using this definition, what is the labour force participation rate of this economy of six people? 60% O 50% O 33% O 80% O 67% The unemployment rate reported by the ABS is given by the following formula: Number of Unemployed Workers Unemployment Rate Number in Labour Force According to this formula, what is the unemployment rate of this economy of six people?Question 2 All rms in a competitive industry have the following long-run total cost curve: C(q) = cf' 2q2 + 4q where q is the output of the rm. 3. Compute the long run equilibrium price and explain how you obtain the result. [20 marks]