Question 1 Not complete Marked out of 1 .00 \\V Flag question Ben likes playing loud music at night, which imposes an external cost on his neighbors as they are not able to fall asleep. Suppose the private cost function is given by MC = 30 + Q (where Q denotes the volume of the music} and the demand curve is given by MB = 80 Q, while the external cost per unit to neighbors is 10. Relative to the socially efcient quantity, the unregulated private solution would lead to an overproduction of [Answer] units. (In decimal numbers, with two decimal places, please.) Answer: Question 2 Not complete Marked out of 1 .00 V Flag question Continue with the previous question, under the unregulated market equilibrium, the deadweight loss to the society is [Answer]. (In decimal numbers, with two decimal places, please.) Answer: Question 3 Not complete Marked out of 1.00 Flag question Consider the market for recycling bags. The demand and social marginal benefit are summarized by the following equations. Demand: P = 800 - 0.6Q Social marginal benefit: MB = 1100 - 0.4Q Based on this information, we can conclude that the external benefit at quantity 290 is [Answer] dollar(s) for an additional bag. (In decimal numbers, with two decimal places, please.)Question 4 Not complete Marked out of1'00 \\V Flag question Consider the market for vaccine, The supply and demand are summarized by the following equations, Demand: P = 240 3Q Supply: P = 40 + 20 Getting a vaccination provides a benefit to other people in society because you do not spread infectious diseases. Suppose getting a vaccination brings to society an external benet of 20 dollars per vaccination. The socially optimal quantity of vaccination consumed for this society is [Answer] unit(s), (In decimal numbers, with two decimal places, please.) Question 6 Not complete Marked out of 1.00 Flag question Consider the market for the automatic sprinkler system. The supply and demand are summarized by the following equations. Demand: Q = 400 - 2P Supply: Q = 4P - 20 The installation of an automatic sprinkler system would provide benefit to other people in society as it reduces the risk of a fire spreading to nearby houses. Suppose the consumption/installation of an automatic sprinkler system brings to the society an external benefit of 7 dollars per automatic sprinkler system. The unregulated market equilibrium quantity is [Answer] unit(s) of automatic sprinkler system. (In decimal numbers, with two decimal places, please.) Answer: Check Question 7 Not complete Marked out of 1.00 Flag question Continue with the previous question. The unregulated market equilibrium price is [Answer] dollars. (In decimal numbers, with two decimal places, please.) Answer: Check Question 8 Not complete Marked out of 1.00 Flag question Continue with the previous question. The total welfare for society at the unregulated market equilibrium is [Answer]. (In decimal numbers, with two decimal places, please.) Answer: CheckQuestion 10 Not complete Marked out of 1.00 Flag question Wearing a mask would provide benefit to other people in society as it helps prevent respiratory droplets from traveling into the air and onto other people. Given that the Marginal Social Cost (MSC) = Marginal Private Cost (MPC) = 2Q, Marginal Private Benefit (MPB) = 20 - 2Q and the Marginal External Benefit (MEB) = 70 - Q. The socially optimal quantity is [Answer] unit(s). (In decimal numbers, with two decimal places, please.) Answer: Check Question 11 Not complete Marked out of 1.00 P Flag question Continue with the previous question. Relative to the socially efficient quantity, the unregulated market equilibrium underproduces by the amount of [Answer] unit(s). (In decimal numbers, with two decimal places, please.) Answer: Check