Table 15.2 Chemical Fertilizer Market Marginal Marginal Marginal Marginal Output Private Social Private Social (tonnes) Benefit ($) Benefit ($) Cost ($) Cost ($) 1 W N 140 140 50 80 120 120 60 90 100 100 70 100 80 80 80 110 60 60 90 120 Table 15.2 gives the market for fertilizer, where externalities are present. (16 Marks)~ Calculate MEC and MEB for both sides of the market. (2 Marks) b) If the market was unregulated, what is the equilibrium price and quantity? (2 Marks)~ d) If the market was regulated, what will be the resulting market price and quantity? (2 Marks) Graph the above table; be sure include the unregulated equilibrium price & quantity, the regulated (Ps). (6 Marks) equilibrium price & quantity, the price the consumer pays (Pc), and the price the producer receives e) Calculate the total per unit tax, consumer's burden, producer's burden, and government tax revenue. (4 Marks)~