Question: Please explain how to solve part a and part b with an explanation Suppose that the demand curve for an electronic tablet is: Pd =

Please explain how to solve part a and part b with an explanation

Suppose that the demand curve for an electronic tablet is: Pd = 1200 40 The supply curve is: P3 = 300 + 4Q where, Q is the quantity of tablets in thousands. P is the price of a tablet in dollars. Production of the tablets, considering the materials used, the wastes created, transportation, and packing, results in $20 of external costs per tablet. a) Solve the equilibrium price and quantity in the tablet market without any regulation algebraically. b) What is the net social benefit in the tablet market without any regulations? Solve for consumer surplus, producer surplus and the externality damage algebraically

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