Sketch a graph of the marginal private benefit to a farmer of using each gallon of water and the marginal cost of procuring each additional gallon of water.Indicate on your graph the quantity of water the farmer will use as q*.Now show the marginal social cost of procuring each additional gallon of water on the same graph and indicate the efficient quantity of water for the farmer to consume. qE.In the text of your post, explain why the location of the MSC and qErelative to MPC and q*, who are the bystanders affected? What are some of the ways discussed in the podcast to manage common resources/avoid the tragedy of the commons and which do you think has the best chance to work in California's Central Valley?