Consider the market for steel. Suppose that a steel manufacturing plant dumps toxic waste into a nearby river, creating a negative externality for those living downstream from the plant. Producing an additional ton of steel imposes a constant incidental cost of $220 per ton. The following graph shows the demand (marginal private value) curve and the supply (marginal private cost) curve for steel. Use the purple points (diamond symbol) to plot the marginal social cost curve when the incidental cost is $220 per ton. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. PRICE (Dollars per ton of steel) 1100 990 880 770 660 550 440 330 220 110 0 0 0 1 O 2 O 0 O The market equilibrium quantity is U 3 4 5 QUANTITY (Tons of steel) O Marginal Social Cost Supply (Marginal Private Cost) Demand (Marginal Private Benefit) 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 steel. per ton

Could you list the equations for each solution?

choices for 1 and 2 are its either "variable" or "fixed" please also do the rest of the questions and graph  thank you!

ook The table below shows some of the expenditure amounts in the economy of Arkinia. The MPC, the MTR, and the MPM are all constant, as are the values of the three injections. a. Complete the table below. Mc Graw Hill 10 Y 0 108 200 300 400 500 600 700 800 S T 800 201 40 60 80 100 120 140 160 180 YD 60 20 140 220 300 380 460 540 620 C 65 130 195 260 325 390 455 520 S The Economy of Arkinia -20 -5 10 40 25 55 70 100 85 I 50 50 50 50 50 50 50 50 50 Tools O Search G < Prev 180 180 180 180 180 180 180 180 180 X 50 50 50 50 50 50 10 of 10 50 50 50 AT IM www 40 50 60 10 20 30 70 Next 80 90 XN 38 30 -40 Draw a 45° line (labelled Y) and the aggregate expenditure function, labelled AE₁. Identify expenditure equilibrium with the letter e₁. Use the tool "el" to show the expenditure equilibrium. Plot only the endpoints of Y and AE. Once all points have been plotted, click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points…