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A ng.cengage.com 1 week 1 - ECOZDD - Introduction to Economics (Inter ... WindTap - Cengage Learning CENGAGE |MINDTAP Q. Search this course 7 Nutchar y Homework (Ch 10) X 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 external cost of $175 per ton. The following graph shows the demand (private value) curve and the supply (private cost) curve for steel. A-Z Use the purple points (diamond symbol) to plot the social cost curve when the external cost is $175 per ton. 500 450 400 Social Cost 260 Supply 300 1.5 (Private Cost) bongo PRICE (Dollars per ton of steel) 250 2. 3 100 O Demand "Private Value) A+ 45 QUANTITY (Tons of steel) 5 5.5 The market equilibrium quantity is