Question 3, Text Exercise 3.8 N HW Score: 61.82%, 6.8 of 11 points Part 3 of 3 @ Points: 0.8 of 1 Suppose that the inverse demand curve for paper is p = 224 - Q, the private marginal cost (unregulated competitive market supply) is MCp =104 + Q, and the marginal harm from gunk is MCgl =Q. What is the unregulated competitive equilibrium quantity? 60 (round your answer to the nearest integer) What is the unregulated competitive equilibrium price? $ 164 (round your answer fo the nearest penny) What is the social optimum quantity? 40 (round your answer to the nearest integer) What is the social optimum price? $ 184 (round your answer to the nearest penny) What specific tax (per unit of output or gunk) results in the sacial optimum? $ (round your answer to the nearest penny) Question 6, Concept Question 6.7 N HW Score: 61.82%, 6.8 of 11 points =T A & Points: 0.50f 1 Suppose there are three stores in a shopping center that would benefit from security lights in the parking lot according to the following demand functions: P,=60-Q g Py =40-3Q P =30-2Q for store A, B, and C, respectively. If security lights cost $70 each, in other words market supply is p =70, what is the efficient quantity of lights? 10 (round your answer to the nearest integer) How many security lights will be purchased if each store buys its own lights? (round your answer to the nearest infeger) How much education will each type of worker get? High-ability people will obtain OA. W - W Wh - W + 1 years of education and low-ability people will obtain + 1 years of education. Ch O B. + 1 years of education and low-ability people will obtain no education. C1 O c. Wh- W - 1 years of education and low-ability people will obtain no education. Ch OD. W - W Wh - W years of education and low-ability people will obtain G years of education. Ch OE. Wh - W + 1 years of education and low-ability people will obtain 1 year of education.Question 3, Text Exercise 3.8 5 HW Score: 61.82%, 6.8 of 11 points TR ] [ BT RN ] Suppose that the inverse demand curve for paper is p = 224 - Q, the private marginal cost (unregulated competitive market supply) is MC, = 104 +Q, and the marginal harm from gunk is MC, = Q. What is the unregulated competitive equilibrium quantity? 60 (round your answer fo the nearest infeger) What is the unregulated competitive equilibrium price? $ 164 (round your answer to the nearest penny) What is the social optimum quantity? 40 (round your answer to the nearest integer) What is the social optimum price? $ 184 (round your answer to the nearest penny) What specific tax (per unit of output or gunk) results in the social optimum? $|60| (round your answer to the nearest penny) X @ That's incorrect. The tax is the amount of vertical shift (change in intercept) necessary in the MC to obtain the socially optimal result