Question $13(1\mathrm{.}5$ points$)$

$$

Scenario $10-2$: The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. $$The production of the $1,000$th gallon of gasoline entails the following:

$$a private cost of $$3\mathrm{.}10$;

$$a social cost of $$3\mathrm{.}55$;

$$a value to consumers of $$3\mathrm{.}70.$

Refer to Scenario $10-2.$ Let Q represent the number of gallons of gasoline and let P represent the price of a gallon of gasoline.$$ Which of the following statements is correct?

Question $13$ options:

$1)$

One point on the social$-$cost curve is $($Q $=1,000,$ P $=$ $$0\mathrm{.}45).$

$2)$

One point on the supply curve is $($Q $=1,000,$ P $=$ $$3\mathrm{.}10).$

$3)$

One point on the demand curve is $($Q $=1,000,$ P $=$ $$3\mathrm{.}55).$

$4)$

The socially optimal quantity of gasoline is less than $1,000$ gallons.