Question: Please help with this practice question. This is the full question. Suppose additionally that each concert that Ernesto hosts at his venue imposes a negative

 Please help with this practice question. This is the full question.

Please help with this practice question. This is the full question.

Suppose additionally that each concert that Ernesto hosts at his venue imposesa negative externality of $75 on the surrounding businesses due to the

Suppose additionally that each concert that Ernesto hosts at his venue imposes a negative externality of $75 on the surrounding businesses due to the increased traffic and noise. Then the privately optimal number of concerts to hold is _ but the socially optimal number of concerts is O 7 concerts ; 4 concerts 4 concerts ; 2 concerts 1 concert ; 0 concerts 4 concerts ; 3 concerts 5 concerts ; 1 concertErnesto manages a small concert venue. The following table shows the private value and private costs of hosting concerts at his venue: Private Cost Suppose additionally that each concert that Ernesto hosts at his venue imposes a negative externality of $75 on the surrounding businesses clue to the increased traffic and noise. Then the privately optimal number of concerts to hold is but the socially optimal number of concerts is

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