Hello, I would like some help to solve this question. Thank you.

1. Assume that the demand function (marginal private benefits) for an environmental good is fully coincidental with the marginal social benefits and can be described by MPB = MSB = 60-3q, where q refers to the quantity of the good. Assume that the supply function (marginal private costs) can be described by MPC = 2q and that the marginal external costs are always half the marginal private costs. (a) Determine the equation of the marginal social costs (MSC). (b) Graph the functions and algebraically determine (i) the market equilibrium (output and price), and (ii) the socially efficient equilibrium (output and price). (c) Calculate total social benefits, total social costs and total social surplus at the market equi- librium level of output and at the socially efficient level of output. What is the deadweight loss? (d) Is it possible to correct this externality? How? Justify your