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Q Homework (Ch 10) 1100 990 Social Cost 880 770 680 Supply (Private Cost) 550 PRICE (Dollars per ton of steel) 440 Demand 330 (Private

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Q Homework (Ch 10) 1100 990 Social Cost 880 770 680 Supply (Private Cost) 550 PRICE (Dollars per ton of steel) 440 Demand 330 (Private Value) 220 110 QUANTITY (Tons of steel) The market equilibrium quantity is _ tons of steel, but the socially optimal quantity of steel production is tons. To create an incentive for the firm to produce the socially optimal quantity of steel, the government could impose a of 5 per ton of steel. O C

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