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Consider the market for dentistry. Dentistry is a competitive industry with a marginal private cost given by MPC = 3Q, where Q is the quantity of dental procedures. The private marginal private benefit (MPB) for the consumers of dentistry is MPB = 60 - Q. People with healthy teeth get sick less often and then make less use of GPs and public hospitals. It has been estimated that dentistry entails a positive consumption externality e of $20 per unit. (a) What is the market equilibrium price and quantity? [3 marks] (b) Considering the private marginal benefit and the externality, determine the equation for the marginal social benefit (SMB) for dentistry. What is socially optimal quantity of dentistry? [3 marks] (c) Define deadweight loss. What is the deadweight loss, if any, in the market outcome for dentistry? [2 marks] (d) Provide details (including calculations) on a policy option for the government to achieve the optimal outcome in the market. Explain the rationale underlying your answer. [2 marks]