The market for a particular chemical, called Negext is described by the following equations:

Qd = 100 -5P

Qs =5P

a. Find the equilibrium price and quantity. Compute consumer surplus and producer surplus at the market equilibrium.

b. For each unit of Negext produced, 5 units of pollution are emitted, and each unit of pollution imposes a cost on society of $1. Compute the total cost of pollution when the market is in equilibrium.